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
Writers protest in London against Meta over AI trained using copyrighted work
Share link:In this post: Artists and writers protested against Meta at its London office for copyright infringement. The writers are angry at the social media firm for using their work to train its AI models without their permission. Meta however defended its position arguing it “respects third party intellectual property.”
Trump Family Crypto Pivot – Eric Trump Embraces Crypto & Trump's Empire Expands
Pornhub adds Bitcoin and Litecoin payments for Premium Subscription
S&P 500 and Nasdaq go deeper into correction as Russell 2000 enters bear market
Trending news
MoreCrypto prices
More
