Cathie Wood Rides Bitcoin Rally And Dumps More Of GBTC, Taking Week's Selling To $13M

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Cathie Wood Rides Bitcoin Rally And Dumps More Of GBTC, Taking Week's Selling To $13M

Benzinga2023-12-10

ZINGER KEY POINTSBitcoin has added nearly 170% this year and is among the best-performing financial assets.GBTC, which debuted in September 2013, is a private, open-ended trust for accredited ...

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The fund ended the session up 4.73% at $35.51, according to Benzinga Pro data.Ark has remained a seller of GBTC shares since late October, as Bitcoin began to rally amid an increase in risk appetite.The firm sold the fund in four of the five sessions with the week’s disposals as follows:Tuesday: $5.90MWednesday: $3.48MThursday: $2.92MFor the week, ARKW liquidated GBTC holdings worth $12.97 million.Why This Matters: Bitcoin has been a tear since forming a near-term bottom in mid-September. The crypto has added nearly 170% this year and is among the best-performing financial assets. 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