On Friday, Cathie Wood-owned Ark Invest liquidated a portion of their Grayscale Bitcoin Trust GBTC shares, pocketing $3.65 million, according to Benzinga Pro data. While Ark has sold the crypto shares coinciding with Bitcoin’s BTC/USD surge in risk appetite, their weekly disposals amounted to $12.97 million.
The digital asset has witnessed a extraordinary growth in 2020. Bollinger Bands suggest that its remarkable gains may continue in the near-term, most likely towards the $50K level. This assumption could be catalyzed by a exchange-traded fund being approved by the Security and Exchange Commission.
A recent overview showed GBTC as the 3rd largest holding in ARKW’s considerable portfolio with a 8.36% weightage. Although no details of buying or holding BTC were made available by Ark, it can be surmised their decision although ecstatic for them, left other investors — concerned or otherwise – reacted.
