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.
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