Ark Invest, led by Cathie Wood, continues to reduce its Grayscale Bitcoin Trust (GBTC) holdings in its portfolio.
According to the statement made by Ark, it is from ARK Next Generation Internet (ARKW) exchange traded fund. about 28 million dollars worth 809,441 GBTC shares sold.
ARKW averages GBTC shares per unit Buy for $24.08 and GBTC, today from $34.54 is being traded.
Ark is also from Block, the company of Twitter founder Jack Dorsey. $26 million purchased shares worth Block users can purchase cryptocurrencies through the Cash App application.
Ark sold millions of dollars of GBTC last week along with the rise in Bitcoin price. According to CoinGecko data, Bitcoin has gained more than 17 percent in value in the last 30 days.