ARK Investment Management Upgrades Its GBTC Holdings.

ARK Investment Management Upgrades Its GBTC Holdings.

2021-02-13 | Big Bob

ARK Investment Management Upgrades Its GBTC Holdings.

Cathie Wood’s ARK Investment Management upgraded its holdings of the GBTC [Grayscale Bitcoin Investment Company] by 2.14 Mln shares within the fourth quarter of 2020, bringing its holdings of the market-leading institutional bitcoin investment vehicle to 7.31 Mln shares. ARK, the actively managed exchange-traded fund led by legendary manager and early bitcoin investor Cathie Wood, made this official disclosure within a filing with the United States SEC [Securities and Exchange Commission]. At the reporting time, ARK's holdings of GBTC are worth $357.5 Mln. ARK's boosted stake is a rise from the 5.17 Mln GBTC shares it persisted on 31st Oct. 2020. Not only did ARK's holdings in GBTC rise within the fourth quarter, but the worth of GBTC shares took off also, reflecting the meteoric rise within the price of bitcoin during that very same period of time . GBTC shares rose 222% within the fourth quarter and are up 39% thus far this year. The worth of the leading cryptocurrency Bitcoin [BTC] also increased over175% in Q4 and is up 63.1% YTD.

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