- ARK Invest bought 176,945 shares in Grayscale’s Bitcoin Trust (GBTC) fund. Cathie Wood bought 176,945 shares in Grayscale’s Bitcoin Trust (GBTC) fund.
- GBTC is trading at a discount of around 50% amid FTX contagion.
- On November 21, Bitcoin reached new two-year lows.
In the midst of the FTX catastrophe, asset management firm ARK Invest is placing a significant buy order for shares in Bitcoin (BTC) companies. The most recent figures show that ARK has increased its ownership of both Coinbase (COIN) and Grayscale Bitcoin Trust (GBTC).
Cathie Wood’s investment firm, Ark Invest, has increased its holdings in Grayscale’s GBTC fund by 176,945 more shares, bringing its total stake in the fund to about $1.4 million.
As of this time, Ark owns around 6.357 million shares of GBTC, which accounts for approximately 0.4% of the company’s total portfolio.
GBTC is a financial instrument that facilitates Bitcoin exposure for…
