Cathie Wood, the founder and CEO of ARK Invest, made a significant move in the cryptocurrency market. According to Ark Invest Daily, Wood’s investment firm sold around 809,441 Grayscale Bitcoin Trust (GBTC) shares from its Next Generation Internet (ARKW) exchange-traded fund (ETF) on Monday, amounting to $27.6 million. This marks the largest sale of GBTC shares in over a year.
The timing of this sale coincided with Bitcoin’s price surpassing the $43,000 mark in Asian trading hours on Tuesday. The digital currency experienced a nearly 5% increase in the last 24 hours, likely influenced by recent updates on ETFs from the Securities and Exchange Commission (SEC).
