Ark Invest buys more GBTC and Coinbase shares

FlavienNovember 22, 2022

Less than a minute

Ark Invest buys more GBTC and Coinbase shares

The prices of digital assets continue to drop as the news keep on coming out in the FTX story and the crypto ventures who suffered from it (among which we can find crypto lender Genesis). Cathie Wood-led Ark Invest took this opportunity to “buy the dip”, by adding 317k COIN shares, worth approximately $13.5 million on Nov. 18, and 176k Grayscale BitcoinTrust (GBTC) shares for about $1.4 million. The GBTC trades at a near 40% discount compared to BTC, but recent news could change things, as Grayscale is affiliated to Genesis and DCG.

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Flavien

Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.