ARK Sells $28M Grayscale Bitcoin Trust Shares as Bitcoin Nears $43K
ARK offloaded $13M worth of GBTC shares last week.
Cathie Wood’s ARK Invest continued to trim its holdings of the Grayscale Bitcoin Trust (GBTC) as the discount to net asset value narrowed and bitcoin (BTC) neared $43,000.
A disclosure from ARK shows that ARK Next Generation Internet ETF (ARKW) sold 809,441 shares of GBTC for approximately $28 million.
The sale leaves the investment firm with 3.4 million GBTC shares ($117.4 million), down from a high of around 9 million shares in July 2021.
ARKW bought the GBTC shares at an average cost of $24.08, putting this sale in the black as GBTC is currently trading for $34.54.
Bitcoin is currently trading above $42,900, according to CoinDesk Indicies data, and is up 17% over the last 30 days.
ARK also bought $26 million worth of shares in Block (SQ), Jack Dorsey's fintech company formerly named Square. Block offers payments in crypto through its Cash App and earlier this month unveiled a new self-custody bitcoin wallet. SQ shares closed on Monday at $73.88, down 0.44% on the day.
UPDATE (Dec. 19, 10:17 UTC): Adds purchase of Block share in last paragraph.
Edited by Parikshit Mishra.
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
Bitcoin’s Abrupt Price Swings in Late 2025: Macroeconomic Triggers and the Actions of Institutional Investors
- Bitcoin's 2025 crash from $126,000 to $80,553 stemmed from macroeconomic shocks, institutional leverage risks, and regulatory shifts. - Trump's 100% China tariffs and Fed rate uncertainty triggered $19B in crypto liquidations, linking Bitcoin to equity market volatility. - Leveraged offshore trading platforms and de-pegged stablecoins exposed crypto's structural vulnerabilities during cascading margin calls. - U.S. Bitcoin ETF approval and EU MiCA regulation boosted institutional adoption, but post-crash
Bitcoin Leverage Liquidation Spike: An Urgent Reminder for Enhanced Risk Controls in Cryptocurrency Trading
- Bitcoin's late 2025 price drop below $86,000 triggered $2B in leveraged liquidations, exposing systemic risks in over-leveraged retail trading. - Major exchanges reported $160M+ forced unwinds, with 90% losses from long positions and a $36.78M single liquidation highlighting concentrated risk. - Regulatory scrutiny intensified as U.S. SEC capped ETF leverage and CFTC examined stablecoin reserves, signaling growing focus on crypto market stability. - Retail traders showed emerging maturity through risk ca
Bitcoin’s Latest Downturn: Key Factors for Investors to Monitor in the Weeks Ahead
- Bitcoin fell below $100,000 in 2025 amid geopolitical tensions, U.S. trade tariffs, and regulatory shifts, raising concerns over market stability. - The Trump administration's pro-crypto policies, including the GENIUS Act and CFTC reforms, aim to boost adoption but face criticism over fraud risks. - Global regulatory divergence, from EU's MiCAR to UAE's innovation-friendly rules, highlights fragmented oversight and cross-border coordination challenges. - Central bank actions, including Fed rate hikes and
Trending news
MoreCrypto prices
More
