Dec 13, 2023

Earlier this week, Cathie Wood's ARK Invest sold around $12.85 million worth of Grayscale Bitcoin Trust (GBTC) shares from its Next Generation Internet (ARKW) exchange-traded fund (ETF), the biggest sale in more than a year.

Video transcript

Chart of the day is presented by, the leading crypto platform trusted by over 80 million users worldwide. All right, let's take a look at the chart of the day. Kathy Woods Arc Invest sold nearly $13 million worth of Gray Scale Bitcoin Trust shares from its next generation internet ETF on Monday, its biggest sale in more than a year. The offload of G BT C shares leaves the fund with about $113 million worth of G BT C A waiting of six 0.95%. Arc aims for no individual holding in its ETF to exceed a 10% weighting of the fund's total market value. This comes as Gray Scale wants to convert its Bitcoin Trust into a spot. Bitcoin ETF in January, the SEC is set to decide on its application along with those of 13 other firms early in the new year. Ark Invest has also sold coin based stock for a third straight day as the shares held steady within 5% of the year's high. That's it for today's chart of the day. I'm Jen Sani. We'll see you next time to unpack more of the data behind top news stories.

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