Bitcoin ETF

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Grayscale Bitcoin Trust

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 After selling nearly 700,000 GBTC shares over the past month, ARK’s Next Generation Internet ETF still holds 4.3 million GBTC shares worth $131.8 million.
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<div class="cointelegraph">
 Cathie Wood’s investment firm ARK Invest has sold 700,000 <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> of the Grayscale Bitcoin Trust (GBTC) over the past <a rel="noopener noreferrer nofollow" title="month" href="https://thebittimes.com/tag/month.html">month</a>, even as Bitcoin (BTC) hit 17-<a rel="noopener noreferrer nofollow" title="month" href="https://thebittimes.com/tag/month.html">month</a> highs over excitement for a possible spot Bitcoin exchange-traded fund (ETF).
 The ARK Next Generation Internet ETF (ARKW) sold 36,168 GBTC <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> on Nov. 22, offloading a total of 697,768 GBTC since Oct. 23, according to ARK’s daily trading data seen by Cointelegraph.
 ARKW offloaded roughly $1 million in GBTC as Grayscale’s trust traded around $30 on Nov. 22, closing at $30.50, per Google Finance data. United States markets closed on Nov. 23 for Thanksgiving.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/24/48733725caa304495f8ce747bab90740.webp">
 <figcaption style="text-align: center;">GBTC daily price on Nov. 22. Source: Google Finance
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 ARK started selling Grayscale Bitcoin Trust <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> on Oct. 23, 2023, as Bitcoin was reaching $34,000. Before that, ARK’s previous reported GBTC transaction was in November 2022, when the firm sold 450,272 GBTC <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a>.
 Related: Grayscale met with SEC to discuss spot Bitcoin ETF details
 After selling nearly 700,000 GBTC <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a> over the past <a rel="noopener noreferrer nofollow" title="month" href="https://thebittimes.com/tag/month.html">month</a>, ARK’s ARKW still holds $131.8 million worth of GBTC, or more than 4.3 million GBTC <a rel="noopener noreferrer nofollow" title="shares" href="https://thebittimes.com/tag/shares.html">shares</a>. As of Nov. 24, Grayscale Bitcoin Trust accounts for 9.2% of ARKW’s portfolio, ranked third after Coinbase and Roku, according to the official ARKW data.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/24/c84a465a483d10d583674e775bc09cb5.webp">
 <figcaption style="text-align: center;">The ARK Next Generation Internet ETF’s top three holdings by weight. Source: ARK
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 The ARK ETF that offloaded the funds is up over 68% year-to-date compared to the over 271% posted by Grayscale’s trust, per Google Finance data.
 Meanwhile, Bitcoin is up 125% YTD and neared $38,000 on Nov. 16, the highest since May 2022, per Cointelegraph Markets Pro.
 Additional reporting by Helen Partz.
 Magazine: Asia Express: HTX hacked again for $30M, 100K Koreans test CBDC, Binance 2.0
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cathie-wood-s-ark-dumps-700k-gbtc-shares-in-one-month-tbt71459.html">https://thebittimes.com/cathie-wood-s-ark-dumps-700k-gbtc-shares-in-one-month-tbt71459.html</a>

Cathie Wood’s ARK dumps 700K GBTC shares in one month

TheBitTimes

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