ARK Invest Sells $6 Million Worth of GBTC

ARK Invest Sells $6 Million Worth of GBTC

FinanceBitcoin ETF

By Miles

13 Nov 2023 (7 months ago)

1 min read

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ARK Invest sells $6M of GBTC as trust's value soars; talks with SEC may signal U.S. bitcoin ETF progress.

Cathie Wood's ARK Invest sold 200,000+ GBTC shares on Nov. 10. ARKW's sale, worth $6.03 million, still leaves GBTC as its biggest investment.

They sold smaller amounts earlier too. GBTC's value went up 10% last week, and 250% in 2023, more than bitcoin's 123% rise.

Grayscale beat the SEC in court in August over a fund issue. Last week, the SEC began discussions with Grayscale, helping the chances for a U.S. bitcoin ETF, boosting the crypto market.

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