Share this article
ARK Sells $28M Grayscale Bitcoin Trust Shares as Bitcoin Nears $43K
ARK offloaded $13M worth of GBTC shares last week.
Updated Mar 8, 2024, 6:50 p.m. Published Dec 19, 2023, 8:18 a.m.
Cathie Wood’s ARK Invest continued to trim its holdings of the Grayscale Bitcoin Trust (GBTC) as the discount to net asset value narrowed and bitcoin [BTC] neared $43,000.
A disclosure from ARK shows that ARK Next Generation Internet ETF (ARKW) sold 809,441 shares of GBTC for approximately $28 million.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The sale leaves the investment firm with 3.4 million GBTC shares ($117.4 million), down from a high of around 9 million shares in July 2021.
ARKW bought the GBTC shares at an average cost of $24.08, putting this sale in the black as GBTC is currently trading for $34.54.
Bitcoin is currently trading above $42,900, according to CoinDesk Indicies data, and is up 17% over the last 30 days.
ARK also bought $26 million worth of shares in Block (SQ), Jack Dorsey's fintech company formerly named Square. Block offers payments in crypto through its Cash App and earlier this month unveiled a new self-custody bitcoin wallet. SQ shares closed on Monday at $73.88, down 0.44% on the day.
UPDATE (Dec. 19, 10:17 UTC): Adds purchase of Block share in last paragraph.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Fidelity's Jurrien Timmer: Expect lame 2026 as four-year bitcoin cycle appears intact
The director of global macro at the asset management giant remains a secular bull on bitcoin, but isn't optimistic about the next year.
What to know:
- A number of notable market analysts of late have dismissed the idea of bitcoin's four-year cycle and the nearly certain bear market that might imply.
- Fidelity's Jurrien Timmer, however, says the action so far this time around lines up about perfectly with past four-year cycles and the current bearish action should last deep into 2026.
Top Stories
