ARK Invest Offloads GBTC Shares

ARK Invest Offloads GBTC Shares

ARK Invest, founded by Cathie Wood in 2014, sold 66,342 units of Grayscale Bitcoin Trust (GBTC) for $1.66 million on October 28, 2023.

This sale aligns with a broader pattern of divesting GBTC shares, with the firm selling approximately $2.5 million in GBTC shares on October 24.

ARK Invest also sold GBTC shares in three sessions that week, with the second consecutive day selling around $1.8 million. These sales may be connected to the firm’s filing for a Bitcoin-based ETF. On October 28, ARK Invest invested $12.4 million in a crypto-linked stock, the specific name of which was not disclosed. The fund has also been actively purchasing shares in other companies, including Robinhood (HOOD), on October 24.

(With inputs from Shikha Singh)

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