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ARK Invest Executes a Significant Sale of GBTC, Marking the Largest Transaction of this Year

Updated: Feb 29

On the trading day of Monday, Ark Invest, under the guidance of Cathie Wood, executed a notable transaction by divesting more than $12.8 million in Grayscale Bitcoin Trust (OTC: GBTC) shares. This move took place against the backdrop of volatile cryptocurrency prices.

Ark Invest

ARK Invest has recently conducted its most substantial sell-off of Grayscale Bitcoin Trust (GBTC) shares for the year, reducing the holdings in its ARKW ETF. This move resulted in ARKW's GBTC holdings decreasing to $112.7 million, constituting approximately 6.95% of its overall value.


The sell-off occurred amid changes in the market and a broader selling trend by ARK Invest. On Monday, Grayscale's Bitcoin Trust shares experienced an 8.6% decline, primarily influenced by a 5.8% drop in the value of Bitcoin. Notably, Grayscale is actively working towards transforming its Trust ETF into a spot Bitcoin ETF, pending approval from the U.S. Securities and Exchange Commission.


In addition to shedding GBTC shares, ARK Invest also divested $1.88 million worth of Coinbase shares on Monday. This move follows a previous sale of over $100 million of Coinbase stock just last week, emphasizing ARK Invest's ongoing adjustment of its investment portfolio in response to market dynamics and strategic considerations.


Photo by CardMapr.nl on Unsplash

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