The largest sale in over a year occurred on recently when Cathie Wood’s ARK Invest sold about $12.85 million worth of shares in Grayscale Bitcoin Trust (GBTC) from its Next Generation Internet (ARKW) exchange-traded fund (ETF).
With 395,945 GBTC shares offloaded from ARKW, the fund now has roughly $112.7 million worth of GBTC, or 6.95% of its total weight. No single holding in an ARK ETF should be greater than 10% of the fund’s overall market value.
The bitcoin (BTC) investment vehicle offered by digital asset manager Grayscale fell 8.6% to $32.46 on Monday, mirroring the 5.8% decrease in the value of the biggest cryptocurrency by market value.
In January, Grayscale plans to turn the Bitcoin Trust into a spot bitcoin exchange-traded fund (ETF). Early in the new year, the U.S. Securities and Exchange Commission is scheduled to make a decision regarding its application, as well as those of thirteen other companies.
On Monday, ARK Invest also sold $1.88 million worth of Coinbase (COIN) shares. This comes after the stock was sold for more than $100 million last week.