According to a subscription to the firm’s trade activity, Cathie Wood’s ARK Invest purchased an additional 310,067 shares of the Grayscale Bitcoin Trust (GBTC) yesterday. The shares were worth approximately $7.8 million at the time of purchase.
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ARK used its ARKW ETF to purchase the shares, adding 310,067 shares to its existing 8,845,921 holdings, bringing the weighting of GBTC in the ETF to just over 4.1%.
ARK also added another 71,877 Coinbase (COIN) shares across its ARKF and ARKW ETFs, showing a continued and ever-growing position in crypto-related assets. In the last few weeks, the company has been continuously buying more and more Coinbase shares as prices have fallen.
On Friday it was revealed that the company had added $53.6 million worth of Square (SQ) shares across a couple of ETFs just after Jack Dorsey announced that Square would make a division dedicated to developing DeFi on Bitcoin.
ARK has shown immense levels of confidence in the cryptocurrency industry’s future by growing its positions as prices have dropped. Should prices begin to climb again, these holdings acquired at such low levels would have a tremendous payoff.
This story is developing.
This news is originally posted here