The Grayscale Bitcoin Trust, one of ARK’s top three holdings, could lose its third-place ranking as ARK sheds its shares while increasing its holdings of Jack Dorsey’s Block.
ARK Invest, one of the applicants for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States, has continued to dump its holdings of Grayscale Bitcoin Trust (GBTC) stock with the sale of yet another significant batch of shares.
On Dec. 18, ARK sold 809,441 GBTC from its ARK Next Generation Internet ETF (ARKW), according to a trade notification seen by Cointelegraph. Based on the closing share price of $34.5, the sale is worth $27.9 million, according to data from TradingView.
This latest divestment further reduces ARK’s exposure to the Grayscale Bitcoin Trust, with GBTC inching closer to dropping out of the list of ARKW’s top three holdings.
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Source: https://cointelegraph.com/news/cathie-wood-ark-dumps-800000-gbtc