ARK Invests scooped up over 1M shares of Grayscale Bitcoin Trust (OTC:GBTC) in Tuesday's trading session, equating to a rough valuation of $29.3M. The buy came as bitcoin (BTC-USD) plunged below $29K. Bitcoin has since bounced, now trading a hair over $34K.
The GBTC purchase was made via the actively managed ARK Next Generation Internet ETF (NYSEARCA:ARKW), and as of yesterday GBTC is now the ninth-largest holding inside of ARKW at 3.62% of the fund. Wood and team also added just shy of $50M of Coinbase (NASDAQ:COIN) to the ARK Innovation Fund (NYSEARCA:ARKK) during yesterday's action
I am just an ape but…. Moooon?
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