Cathie Wood’s ARK Invest sees Grayscale Bitcoin Trust (GBTC) as discount to net asset value narrows and Bitcoin (BTC) approaches $43,000 The amount held was reduced.

According to Ark’s disclosure, the Next Generation Internet ETF (ARKW) sold 809,441 units of GBTC for approximately $28 million (approximately 4 billion yen, exchange rate of 1 dollar = 140 yen).

As a result of this sale, Ark’s GBTC holdings are now 3.4 million units (approximately $117.4 million, approximately 16.4 billion yen), down from approximately 9 million units in July 2021.

GBTC is trading at around $34.5 and ARKW bought at an average cost of around $24, so they made a profit on this sale.

Bitcoin was trading around $42,900 at press time, up 17% in the past 30 days, according to CoinDesk Indicies data.

Ark also bought a $26 million stake in Jack Dorsey’s fintech company Block. Block offers crypto payments through its app and announced a new self-custodial Bitcoin wallet earlier this month. Block stock closed 0.44% lower at $73.88 on the 18th.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Danny Nelson/CoinDesk
｜Original text: ARK Sells $28M Grayscale Bitcoin Trust Shares as Bitcoin Nears $43K