The dark clouds created by the bankruptcy of FTX have not yet left the cryptocurrency markets.
Despite the easing in the dollar index and the rise in global markets bitcoinRisk appetite remains low. While watching Bitcoin struggling to rise above $17,000 and drop below $16,000, a modest buying news came.
Ark Invest announced in its latest trading note that it has made a $2.8 million purchase from the Grayscale Bitcoin Trust Fund (GBTC). This equates to 315,259 shares. The funds were added to an ETF from Ark Invest.
GBTC institutional investors in a more reliable and regulated way bitcoin It is a fund that allows it to gain exposure and has been trading at very low premiums since the bear market started.
According to data from The Block GBTC It is currently trading at a discount of 39% from market value.
This is Ark Invest’s first purchase after July 2021. GBTC reception.
The value of the total assets of the largest Bitcoin fund also declined with the collapse in BTC.
Having reached a valuation of $40 billion at the end of the bull market, the fund is currently valued at $10 billion.
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