from ARK Sells $28M Grayscale Bitcoin Trust Shares as Bitcoin Nears $43K.
Cathie Wood’s ARK Investment Management has sold $28 million worth of shares in the Grayscale Bitcoin Trust (GBTC) as the price of Bitcoin approaches $43,000. This sale comes after ARK offloaded $13 million worth of GBTC shares last week. After the recent sale, the investment firm holds 3.4 million GBTC shares, down from a high of around 9 million shares in July 2021. The average cost of the GBTC shares purchased by ARK was $24.08, and the current trading price is $34.54. Bitcoin is currently trading above $42,900, up 17% over the last 30 days.
