Cathie Wood Dumps Over $6M Grayscale Bitcoin Fund This Week As Bitcoin Rallies About 14%, While Amassing $12.4M Worth Of This Crypto-linked Stock
Portfolio Pulse from Shanthi Rexaline
Ark Invest, led by Cathie Wood, sold $6.05 million worth of Grayscale Bitcoin Trust (GBTC) units this week, while Bitcoin rallied about 14%. Meanwhile, Ark Invest added $12.4 million worth of shares in Block, Inc. (SQ), a company with exposure to Bitcoin.
October 28, 2023 | 2:15 pm
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POSITIVE IMPACT
ARKF bought shares of Block valued at $12.4 million.
The purchase of a significant amount of SQ shares by ARKF could potentially put upward pressure on SQ's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ark Invest added $12.4 million worth of shares in Block, Inc. (SQ).
The purchase of a significant amount of SQ shares by a major fund like Ark Invest could potentially put upward pressure on SQ's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
ARKK closed Friday’s session down 1.90% at $34.10.
ARKK's price fell by 1.90% at the close of Friday's session, which could potentially indicate a negative short-term trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
ARKW sold 66,342 units of GBTC.
The sale of a significant amount of GBTC units by ARKW could potentially put downward pressure on GBTC's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ark Invest sold $6.05 million worth of GBTC units this week.
The sale of a significant amount of GBTC units by a major fund like Ark Invest could potentially put downward pressure on GBTC's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100