Generation

Grayscale Bitcoin Trust

Daily

Source: Ark Invest Instagram 
Cathie Wood-led Ark Invest sold over $12.8 million worth of Grayscale Bitcoin Trust (GBTC) shares on Monday amid a broader market sell-off, <a href="https://twitter.com/ArkkDaily/status/1734397785036742816">Ark Invest Daily reported</a>. 
The decision to offload 395,945 GBTC shares through the ARK Next Generation Internet ETF (ARKW) came as the leading cryptocurrency traded around $40,000. 
The GBTC sale, valued at $12.85 million, saw the trust closing 8.59% lower at $32.46 on Monday. 
<h2 id="ark-invest-continues-to-dump-coinbase-shares">Ark Invest Continues to Dump Coinbase Shares</h2> 
 In addition to the GBTC sale, Ark Invest also adjusted its position in Coinbase, the largest US-based cryptocurrency exchange. On the same day, Ark sold a total of 13,634 Coinbase shares through ARK Innovation ETF and ARKW, amounting to $1.8 million. Coinbase shares closed 5.87% lower at $138.02 for the day. 
This move follows Ark Invest’s earlier adjustments in its Coinbase position this month when Bitcoin crossed the $44K mark. The company <a href="https://twitter.com/ArkkDaily/status/1733324703459160517">sold 335,860 shares in Coinbase on Friday</a>, marking its most substantial sale since July. 
The sale, executed across three exchange-traded funds (ETFs), primarily involved the Innovation ETF (ARKK). At Coinbase’s closing price, this transaction raised $49.2 million. 
Despite the <a href="https://cryptonews.com/news/ark-invest-sells-another-1-4m-shares-of-coinbase-increases-exposure-to-robinhood.htm">recent sales</a>, Coinbase (COIN) still represents a significant portion of Ark’s ETF portfolios. It accounts for more than 11% of the ARKK and Next Generation ETF (ARKW) and over 13% of the Fintech Innovation ETF (ARKF).

Ark Invest Dumps Nearly $13 Million in GBTC Shares Amid Broader Market Sell-Off

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