Investment management firm ARK Invest is adding additional exposure to Bitcoin through the Grayscale Bitcoin Trust.
A new update of ARK Invest’s latest purchases shows that the investment management company, headed by Cathie Wood, bought 140,157 shares of Grayscale Bitcoin Trust (GBTC) on July 20th.
A day earlier, ARK Invest bought 310,067 GBTC shares, adding to its total of 450,224 shares in the Grayscale fund purchased this week. These shares are worth approximately $7.45 million at time of writing.
With ARK Invest’s latest GBTC purchases, the ARKW ETF now holds a total of 9,030,366 shares in the Grayscale trust. The market value of the stake is over $200 million. The GBTC stake is a top ten holding for Cathie Wood’s investment management firm, with a fund weight of 3.76%.
On July 19th, ARK Invest added 48,977 shares of cryptocurrency exchange Coinbase (NASDAQ: COIN) to its stake, another top-ten holding. This move coincides with Coinbase’s shares falling close to its all-time low of about $212.
The purchase brings the total number of Coinbase shares held by ARK Invest to 1,042,254. The shares are worth over $240 million, or about 4.07% of the ARKW ETF, at time of writing.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Gonin