Ark dumps 500K GBTC shares, adds Coinbase stock as Bitcoin recovers 40% By Cointelegraph

January 23, 2023 John Coinbase Comments Off on Ark dumps 500K GBTC shares, adds Coinbase stock as Bitcoin recovers 40% By Cointelegraph

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Cathie Wood’s Ark Invest offloaded a chunk of its Grayscale Trust (GBTC) shares since November’s Bitcoin (BTC) price lows, the latest data shows.

Ark Invest added 450,272 GBTC shares worth $4.5 million to its ARK Next Generation Internet ETF (ARKW) in November 2022. At the time, GBTC was trading in the $7.46-$9.48 range versus $12.25 in January 2023.

GBTC daily price chart. Source: TradingView
GBTC shares (purple) in Ark’s ETF versus its price (orange). Source: Cathiesark.com
GBTC shares’ weight (purple) across Ark ETFs. Source: Cathiesark.com
COIN shares (purple) in Ark’s ETF versus its price (orange). Source: Cathiesark.com
GBTC daily price chart. Source: TradingView