Cathie Wood’s ARK sells Grayscale Bitcoin Trust shares as BTC hits $34K

Investment firm ARK is selling Grayscale Bitcoin Trust (GBTC) shares amid a market surge fueled by anticipation of a spot BTC exchange-traded fund (ETF).

On Oct. 23, ARK — headed by pro-Bitcoin (BTC) investment veteran Cathie Wood — sold 100,739 GBTC shares ($2.5 million) from ARK Next Generation Internet ETF (ARKW), according to a trade notification seen by Cointelegraph.

The transaction comes as GBTC touched multi-month highs, reaching $24.7 for the first time since May 2022. According to data from TradingView, GBTC has surged more than 200% year-to-date and is up nearly 30% over the past 30 days.

The GBTC sale marks ARK’s first officially reported GBTC transaction since November…

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