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<p class="p1" style="text-align: justify">In the United States, ARK Invest, a crypto-friendly asset management company that has applied for a spot <a href="https://en.coin-turk.com/a-new-metric-for-bitcoin-cointime-economics-and-its-impact-on-the-cryptocurrency-market/" data-wpel-link="internal">Bitcoin</a> exchange-traded fund (ETF), continues to offload its shares of Grayscale Bitcoin Trust (GBTC) with another significant share sale. ARK Invest is drawing attention with its sales of GBTC and <a href="https://en.coin-turk.com/the-potential-impact-of-spot-bitcoin-etf-applications-on-the-market/" data-wpel-link="internal">Coinbase</a> shares, which have surged along with the rise in the crypto market.</p> 
<h2 class="p1" style="text-align: justify" id="gbtc-sales-continue">GBTC Sales Continue</h2> 
<p class="p1" style="text-align: justify">According to a transaction notification shared by the company, ARK Invest sold 809,441 GBTC shares on December 18th in its ARK Next Generation Internet ETF (ARKW). Based on the share price of $34.5 reported by TradingView, this sale is valued at $27.9 million.</p> 
<p class="p1" style="text-align: justify">This latest divestment by the company further reduces ARK Invest’s fund weighting towards Grayscale Bitcoin Trust, and GBTC is nearing its exit from the top three holdings list of the ARKW fund.</p> 
<p class="p1" style="text-align: justify">As of December 18th, GBTC shares still rank third among the largest assets in the ARKW portfolio, constituting 6.84% of the total assets with a market value of $117 billion. GBTC is positioned below Coinbase, which makes up 11% of the ARKW fund’s total assets, and the broadcasting company Roku, which accounts for 8%.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-291310 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/ark-varlik-veri.webp" alt="" width="1166" height="390"></p> 
<h2 class="p1" style="text-align: justify" id="ark-invest-makes-significant-investment-in-crypto-company">ARK Invest Makes Significant Investment in Crypto Company</h2> 
<p class="p1" style="text-align: justify">While offloading GBTC shares, ARK Invest continues to accumulate shares of Block, the <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> payment processor founded by Twitter co-founder Jack Dorsey. Through the ARKW fund, the company allocated an additional 347,692 Block shares worth $25.7 million based on the closing share price on December 18th.</p> 
<p class="p1" style="text-align: justify">Amidst these purchases, Block shares are approaching GBTC in the top four list, reaching 6.83% of the total assets in the ARKW fund with a market value of $116.9 billion.</p> 
<p class="p1" style="text-align: justify">On December 7th, Block launched Bitkey, a Bitcoin-focused cold wallet product. The wallet can be used as a mobile application or hardware storage and will be accessible in over 95 countries. Notably, Coinbase and Cash App are among Bitkey’s first global partners.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/ark-invest-continues-to-sell-gbtc-shares-amidst-crypto-market-movements/" data-wpel-link="internal">https://en.coin-turk.com/ark-invest-continues-to-sell-gbtc-shares-amidst-crypto-market-movements/</a>

ARK Invest Continues to Sell GBTC Shares Amidst Crypto Market Movements

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