ARK Invest Boosted Its GBTC Holdings by 2.14M Shares in Q4

Cathie Wood's Ark Invest purchased more than 450,000 GBTC shares in two separate buys this week. As the price of Bitcoin returned to more than $32,000 this week, some major firms announced they had increased their exposure to cryptocurrencies through Grayscale’s crypto trusts.According to a Friday filing with the U.S. Securities and Exchange Commission, or SEC, New York-based investment firm Edge Wealth Management currently holds 54,134 shares of Grayscale’s Bitcoin Trust (GBTC), valued at $27.13 at the time of publication, and 25,280 shares of the company’s Ethereum Trust (ETHE). The....

Bitcoin prices remain under pressure in the $30,000-$40,000 zone as traders brace for the 16,000 BTC worth of GBTC shares unlocking in July. Whether a potential sell-off of shares tied to a multi-billion dollar Bitcoin (BTC) investment fund could crash the cryptocurrency's spot prices has turned into a hotly debated topic among the analysts in the space.Grayscale's premium remains negative for months The argument concerns Grayscale Bitcoin Trust, the world's largest digital assets manager that allows institutional investors to gain indirect exposure in the Bitcoin market through its....

GBTC is the listed stock for the Bitcoin Investment Trust (BIT) that many people in and outside the bitcoin sector have been eagerly waiting for. The other day it was brought to the attention of r/bitcoin that bids for GBTC shares are starting to get a little bit more serious. GBTC shares trade at the value of 1 GBTC share equals approximately 0.1 bitcoin, with a minimum bid of 100 shares, making the minimum bid possible ten bitcoins. Maxim Group LLC (MAXM), an Investment Banking, Securities and Wealth Management business, had put down a bid for 50,000 GBTC shares at the value of $35 per....

It has been a long time coming, but as of this morning, the publicly traded shares of the Bitcoin Investment Trust have officially started trading under the ticker GBTC. For the first time in bitcoin's history, bitcoin can now be bought and sold on the public markets. For the past few weeks, there have been multiple bids placed for shares of GBTC, including one by Maxim Capital for 50,000 shares at $35.00/share. However, there hadn't been any asks, or offers to sell shares. KGA Americas was the first to place a $44.00 ask for 298 shares of GBTC, which is the equivalent to 29.8 bitcoin at....

Cathie Wood, the founder of Ark Invest, bought the dip this Tuesday when Bitcoin prices tumbled below $30K. According to reports, Ark acquired more than one million shares of the Grayscale Bitcoin Fund. The company also bought more Coinbase shares. Wood has a positive stance on crypto and keeps predicting Bitcoin will reach a long-term price of $500K. Ark Invest Purchases One Million Shares Dips are for buying: that’s the popular saying in bull markets. And Cathie Wood, founder and CEO of Ark Invest did just that. According to reports, Ark took advantage of the price dip to acquire....