ARK Invest sold $5 million worth of GBTC shares last week
On November 27th, Cathie Wood-led ARK Invest continued to sell shares of Grayscale Bitcoin Trust (GBTC) last week, selling a total of 163,722 shares and earning about $5.02 million based on the closing price, as reported by CoinDesk. ARKW ETF sold a total of 579,077 shares in November, earning about $16.9 million based on the closing price. ARK Invest usually buys into crypto-related shares when they fall and sells them when they rise to make a profit.
The negative premium rate of GBTC narrowed to 8.6% on Friday, the lowest point since July 2021. Analysts attributed this improvement to Grayscale's meeting with the US Securities and Exchange Commission (SEC) to discuss converting the trust into a spot ETF.
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
WisdomTree has filed for a Delaware trust to launch an XRP ETF
Avalanche launches Avalanche9000 testnet to reducing costs and enable permissionless L1s
Visionary or 'financial comedy'? Market participants weigh MicroStrategy's stock premium amid bitcoin buying spree
MicroStrategy, with a market cap of around $85 billion, currently holds 331,200 bitcoin worth about $30 billion.The stock’s 440% year-to-date surge has baffled some financial pundits, while others have cheered its corporate strategy.
Congress’s top priorities this lame duck session
Here’s a look at what lawmakers are most focused on in these final weeks of the 118th Congress
Trending news
MoreCrypto prices
More
