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ARK Invest Sells Approximately 33,000 Shares of Grayscale Bitcoin Trust
According to Foresight News, ARK Invest, led by Cathie Wood, sold approximately 33,000 shares of the Grayscale Bitcoin Trust (GBTC) on November 21, valued at around $96,000.
The sale comes as the cryptocurrency market continues to experience volatility, with Bitcoin and other digital assets facing fluctuations in value. ARK Invest's decision to sell its GBTC shares may be a strategic move in response to these market conditions.
Grayscale Bitcoin Trust is a popular investment vehicle for institutional investors looking to gain exposure to Bitcoin without directly owning the cryptocurrency. The trust holds Bitcoin on behalf of its investors, allowing them to benefit from the potential appreciation of the digital asset while avoiding the complexities of managing and storing it themselves.
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