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Grayscale Bitcoin Trust

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 <p class="is-style-lead">Cathie Wood’s ARK Invest sold 237,572 Coinbase (COIN) <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> for $33 million and 168,127 Grayscale Bitcoin Trust (GBTC) <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> worth about $5.9 million.</p> 
 <p>On Dec. 5, ARK Invest, led by Cathie Wood, sold $33 million in Coinbase (COIN) stock after the crypto exchange’s <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> reached a 19-month peak in a move analysts connect to the recent uptick in Bitcoin (BTC) price. </p> 
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    <p lang="en" dir="ltr">Cathie Wood and Ark Invest's trade activity from today 12/4 pic.twitter.com/M560DWhaHn</p>— Ark Invest Daily (@ArkkDaily) December 5, 2023
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 <p>The sale involved a total of 237,572 COIN <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a>, distributed across three of ARK’s exchange-traded funds (ETFs): ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Fintech Innovation (ARKF).</p> 
 <p>During the trading day, COIN shares reached a high of $147.86 but eventually settled at $140.20, marking a slight decline of 0.63%.</p> 
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 <p>Additionally, ARK offloaded 168,127 shares from Grayscale’s Bitcoin Trust (GBTC), valued at approximately $5.9 million. On Tuesday, GBTC shares closed at $35.10, their highest since December 2021.</p> 
 <p>This recent sale also follows ARK’s previous divestments of Coinbase <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a>: 37,377 <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> ($4.7 million) on Thursday and sales worth $5.3 million and $4.9 million on Dec. 3 and 4.</p> 
 <p>ARK Invest is known for its strategy of accumulating crypto-related <a rel="dofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> when prices are lower and selling them during bullish market trends.</p> 
 <p>The investment manager’s portfolio adjustment coincides with a significant rise in Bitcoin’s value, which soared past $44,000 in the last 24 hours, reaching heights last observed before the Terra ecosystem downturn in May 2022.</p> 
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   <img decoding="async" width="898" height="495" src="https://cdn.thebittimes.com/images/2023/12/06/6afaeafbfb790dc9320dd11b2a47f2f8.webp" alt="ARK Invest sells $33m in Coinbase shares, $5.9m in GBTC - 1"> 
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   BTC 24-hour price chart | Source: CoinMarketCap
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 <p>The leading cryptocurrency has seen a remarkable increase of over 160% year-to-date and is currently trading at around $43,664, per CoinMarketCap data.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> PlanB forecasts Bitcoin bull run, eyes $100K target in 2023-2024 based on stock-to-flow modelling 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ark-invest-sells-33m-in-coinbase-shares-5-9m-in-gbtc-tbt72780.html">https://thebittimes.com/ark-invest-sells-33m-in-coinbase-shares-5-9m-in-gbtc-tbt72780.html</a></p>

ARK Invest sells $33m in Coinbase shares, $5.9m in GBTC

TheBitTimes

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