Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

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 <p class="is-style-lead">Cathie Wood’s ARK Invest bought 347,692 <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> of Block for $25.7 million while offloading 809,441 GBTC <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> worth about $27.95 million.</p>
 <p>On Dec. 18, ARK Invest, led by Cathie Wood, bought $25.7 million in Block Inc (SQ) stock after the publicly traded firm’s <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> reached a 4-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 12/18 pic.twitter.com/Nx06hSyRYQ</p>— Ark Invest Daily (@ArkkDaily) December 19, 2023
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 <p>The purchase involved a total of 347,692 Block shares, a provider of financial services and digital payments, through ARK Next Generation Internet ETF (ARKW).</p>
 <p>During the trading day, Block <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> reached a high of $74.77 but eventually settled at $73.88, marking a slight decline of 0.44%.</p>
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 <p>On the same day, Ark also offloaded around 809,441 Grayscale Bitcoin Trust (GBTC) <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> worth $27.6 million from the same ARKW ETF, the biggest sale in more than a year.</p>
 <p>GBTC traded for $34.54 at market close on Monday as Ark capitalized on recent gains. However, GBTC <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> are currently trading 39% lower than their peak of $56.70 in February 2021.</p>
 <p>The recent transactions by ARK Invest highlight the dynamic nature of investment strategies in the cryptocurrency sector. Just last week, Wood sold $14.9 million worth of GBTC shares amidst a slight decline in the crypto rally.</p>
 <p>She has previously indicated that the potential approval of a U.S. Bitcoin ETF could challenge GBTC’s market position. Notably, ARK Invest is also awaiting approval from the SEC to launch its own Bitcoin ETF.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> ARK Invest sells $33m in Coinbase shares, $5.9m in GBTC
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ark-invest-buys-25-7m-in-block-shares-offloads-28m-in-gbtc-tbt74134.html">https://thebittimes.com/ark-invest-buys-25-7m-in-block-shares-offloads-28m-in-gbtc-tbt74134.html</a></p>

Ark Invest buys $25.7m in Block shares, offloads $28m in GBTC

TheBitTimes

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