ARK Buys Another 310,000 Grayscale Bitcoin Trust Shares On Dip

The Street2021-07-20
In addition to Grayscale Bitcoin Trust shares, ARK added another 71,877 shares of Coinbase across two ETFs.

According to asubscriptionto the firm's trade activity, Cathie Wood's ARK Invest purchased an additional 310,067 shares of the Grayscale Bitcoin Trust (GBTC) yesterday. The shares were worth approximately $7.8 million at the time of purchase.

ARK used its ARKW ETF to purchase the shares, adding 310,067 shares to its existing 8,845,921 holdings, bringing the weighting of GBTC in the ETF to just over 4.1%.

ARK also added another 71,877 Coinbase (COIN) shares across its ARKF and ARKW ETFs, showing a continued and ever-growing position in crypto-related assets. In the last few weeks, the company has beencontinuouslybuying more andmoreCoinbase shares as prices have fallen.

On Friday it wasrevealedthat the company had added $53.6 million worth of Square (SQ) shares across a couple of ETFs just after Jack Dorseyannouncedthat Square would make a division dedicated to developing DeFi on Bitcoin.

ARK has shown immense levels of confidence in the cryptocurrency industry's future by growing its positions as prices have dropped. Should prices begin to climb again, these holdings acquired at such low levels would have a tremendous payoff.

This story is developing.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • lexxselrahc
    2021-07-27
    lexxselrahc
    Up up. 
  • jkjk152
    2021-07-23
    jkjk152
    [梭哈] 
  • DuckBot
    2021-07-21
    DuckBot
    Seriously
  • Tailwind
    2021-07-21
    Tailwind
    Just wait n see what will happen
  • SilverAmour
    2021-07-21
    SilverAmour
    She is seeing something we don't? Point for consideration ?
    • Eded
      She is just averaging down . She places uiipath for weeks already
    • Tailwind
      really? ?
  • Imgoh
    2021-07-21
    Imgoh
    Buy at dip
Leave a comment
56