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$1,113.57 -11.55301
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Bitcoin
Bitcoin (BTC)
$112,406.00 -7.72359
Bitcoin price
Ethereum
Ethereum (ETH)
$3,824.65 -12.81493
Ethereum price
BNB
BNB (BNB)
$1,113.57 -11.55301
BNB price
Solana
Solana (SOL)
$187.47 -15.46667
Solana price
XRP
XRP (XRP)
$2.38 -15.54716
XRP price
Shiba Inu
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$0.0000101 -16.33292
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000068 -26.74468
Pepe price
Bonk
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$0.0000132 -30.92009
Bonk price
dogwifhat
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$0.488352 -31.73615
dogwifhat price
Popcat
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$0.153775 -31.99803
Popcat price
Bitcoin
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$112,406.00 -7.72359
Bitcoin price
Ethereum
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$3,824.65 -12.81493
Ethereum price
BNB
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$1,113.57 -11.55301
BNB price
Solana
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$187.47 -15.46667
Solana price
XRP
XRP (XRP)
$2.38 -15.54716
XRP price
Shiba Inu
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$0.0000101 -16.33292
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000068 -26.74468
Pepe price
Bonk
Bonk (BONK)
$0.0000132 -30.92009
Bonk price
dogwifhat
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$0.488352 -31.73615
dogwifhat price
Popcat
Popcat (POPCAT)
$0.153775 -31.99803
Popcat price
Bitcoin
Bitcoin (BTC)
$112,406.00 -7.72359
Bitcoin price
Ethereum
Ethereum (ETH)
$3,824.65 -12.81493
Ethereum price
BNB
BNB (BNB)
$1,113.57 -11.55301
BNB price
Solana
Solana (SOL)
$187.47 -15.46667
Solana price
XRP
XRP (XRP)
$2.38 -15.54716
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000101 -16.33292
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000068 -26.74468
Pepe price
Bonk
Bonk (BONK)
$0.0000132 -30.92009
Bonk price
dogwifhat
dogwifhat (WIF)
$0.488352 -31.73615
dogwifhat price
Popcat
Popcat (POPCAT)
$0.153775 -31.99803
Popcat price

Ark Invest buys $25.7m in Block shares, offloads $28m in GBTC

Dorian Batycka
Edited by
News
Ark Invest buys $25.7m in Block shares, offloads $28m in GBTC

Cathie Wood’s ARK Invest bought 347,692 shares of Block for $25.7 million while offloading 809,441 GBTC shares worth about $27.95 million.

On Dec. 18, ARK Invest, led by Cathie Wood, bought $25.7 million in Block Inc (SQ) stock after the publicly traded firm’s shares reached a 4-month peak in a move analysts connect to the recent uptick in Bitcoin (BTC) price.

The purchase involved a total of 347,692 Block shares, a provider of financial services and digital payments, through ARK Next Generation Internet ETF (ARKW).

During the trading day, Block shares reached a high of $74.77 but eventually settled at $73.88, marking a slight decline of 0.44%.

On the same day, Ark also offloaded around 809,441 Grayscale Bitcoin Trust (GBTC) shares worth $27.6 million from the same ARKW ETF, the biggest sale in more than a year.

GBTC traded for $34.54 at market close on Monday as Ark capitalized on recent gains. However, GBTC shares are currently trading 39% lower than their peak of $56.70 in February 2021.

The recent transactions by ARK Invest highlight the dynamic nature of investment strategies in the cryptocurrency sector. Just last week, Wood sold $14.9 million worth of GBTC shares amidst a slight decline in the crypto rally.

She has previously indicated that the potential approval of a U.S. Bitcoin ETF could challenge GBTC’s market position. Notably, ARK Invest is also awaiting approval from the SEC to launch its own Bitcoin ETF.