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 31
st 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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