Ark dumps 500K GBTC shares, adds Coinbase stock as Bitcoin recovers 40%
Cathie Wood’s Ark Invest offloaded a chunk of its Grayscale Bitcoin Trust (GBTC) shares since November’s Bitcoin (BTC) price lows, the latest data shows.
Cathie Wood’s Ark short-term cautious on GBTC
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 price, of course, recovered alongside Bitcoin, rising roughly 40% from its November…