Share this article
ARK Invest Boosted Its GBTC Holdings by 2.14M Shares in Q4
Cathie Wood's asset manager significantly boosted its stake in the Grayscale Bitcoin Investment Trust.
Updated Sep 14, 2021, 12:11 p.m. Published Feb 12, 2021, 10:44 p.m.
Make us preferred on Google
Cathie Wood's ARK Investment Management increased its holdings of the Grayscale Bitcoin Investment Trust (GBTC) by 2.14 million shares in the fourth quarter of 2020, bringing its holdings of the market-leading institutional bitcoin investment vehicle to 7.31 million shares.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- ARK, the actively managed exchange-traded fund run by legendary manager and early bitcoin investor Cathie Wood, made the disclosure in a filing with the U.S. Securities and Exchange Commission.
- At press time, ARK's holdings of GBTC are worth $357.5 million.
- ARK's boosted stake is an increase from the 5.17 million GBTC shares it held on Oct. 31, 2020.
- Not only did ARK's holdings in GBTC rise in the fourth quarter, the value of GBTC shares took off as well, reflecting the meteoric rise in the price of bitcoin during that same time period.
- GBTC shares rose 222% in the fourth quarter and are up 39% so far this year. The price of bitcoin increased 177% in Q4 and is up 63.1% YTD.
- Grayscale is owned by CoinDesk parent company Digital Currency Group.
Read more: Cathie Wood: More Tech Companies Will Adopt Bitcoin Treasury Reserves
Más para ti
Forget $80k: Michael Terpin warns bitcoin could revisit the $40,000s before a real recovery
Terpin argued that bitcoin’s post-halving bubble followed its typical arc and says history suggests the market may still face another wave of pain.
Lo que debes saber:
- Michael Terpin says the bull market peak came in the fourth quarter after the halving, in line with prior cycles.
- While dismissing $80,000 and $60,000 bottom calls as premature, he sees the potential for bitcoin to revisit the $50,000s or even $40,000s in a fragile market.
Top Stories
