ARK trims holdings of Grayscale Bitcoin Trust as discount narrows and BTC approaches $43K
ARK, led by Cathie Wood, has sold 809,441 shares of Grayscale Bitcoin Trust (GBTC) for around $28 million as bitcoin approaches $43,000. This brings the investment firm's remaining GBTC shares to 3.4 million ($117.4 million), down from a peak of 9 million shares in July 2021. ARK purchased the GBTC shares at an average cost of $24.08, making a profit on this sale as GBTC currently trades at $34.54. Bitcoin is currently trading above $42,900, up 17% in the last 30 days.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Will Bitcoin Reach $105K? The Potential Impact of Liquidity Injections on Bullish Surge
Exploring the Potential Influence of Global Liquidity on Bitcoin's Ascension to a New High
Leverage-Driven Pump: How Bitcoin Long Traders Could Become Trapped
Unpacking the Perils and Potential of Leverage-Driven Bitcoin Pump for Long Traders
Despite Bitcoin’s Decline, Tom Lee Maintains BTC Will Still Be the Year’s Best Bet
Trending news
MoreCrypto prices
More
