Cathie Wood’s Ark Pares Holdings of Top Pick Bitcoin Trust

Ark sold more than 700,000 shares of Grayscale Bitcoin Trust
Bitcoin has been rallying despite rising scrutiny of industry

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By Abhishek Vishnoi

November 24, 2023 at 3:28 AM UTC

This article is for subscribers only.

While Cathie Wood has been touting her bullish stance on Bitcoin in recent months, her firm ARK Investment Management actually cut holdings in the Grayscale Bitcoin Trust.

Ark Next Generation Internet ETF has sold more than 700,000 shares of Bitcoin Trust since Oct. 23, according to the ETF provider’s daily trading data compiled by Bloomberg. It offloaded 36,168 shares on Wednesday. Bitcoin Trust enables investors to gain exposure to Bitcoin in the form of security.