ARK Invest sold approximately US$3.76 million worth of GBTC yesterday and bought US$5.61 million in Block shares.
On November 6th, ARK Invest adjusted its investment portfolio and purchased 113,326 shares of Block Inc. through its flagship products, ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF). Based on Block's closing price of $49.52 that day, the total value of the transaction was approximately $5.61 million. In addition, Ark Invest sold approximately $3.76 million worth of GBTC through ARKW. Data shows that GBTC's closing price on Monday was $26.95. Previously, Cathie Wood, founder of investment management company ARK Invest, stated that in addition to having potential in an inflationary environment, Bitcoin can also serve as a hedge tool against deflation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Evaluating Probability of Ethereum Breaching the $4K Milestone Soon
Ethereum's Potential Bull Run Versus Existing Downward Forces: The Battle for the $4K Mark
![](https://img.bgstatic.com/multiLang/image/social/a3e1b4ed5bea1a811ee9bc69e495eca01739039599124.png)
What Stage of the Bitcoin Bull are We in? Are We Nearing The End Or Are We Just Getting Started?
Which stage of the bull run are we in in Bitcoin, the world's largest cryptocurrency? Are we nearing the end of the bull run? Here is the analyst forecast.
IOTA Rebased Testnet Onboards Trusted Validators Securing Billions in Assets
![](https://img.bgstatic.com/multiLang/image/social/2e439c7d5fd5f6faef1ba09b04d7b8921739033707173.jpg)
NEAR Protocol Supports Web3 AI With New $20M Development Fund
![](https://img.bgstatic.com/multiLang/image/social/867c79bdb67f7bd61c98b9af1146badc1739033706549.png)
Trending news
MoreCrypto prices
More![Bitcoin](https://img.bgstatic.com/multiLang/coinPriceLogo/bitcoin.png)
![Ethereum](https://img.bgstatic.com/multiLang/coinPriceLogo/ethereum.png)
![Tether USDt](https://img.bgstatic.com/multiLang/coinPriceLogo/0208496be4e524857e33ae425e12d4751710262904978.png)
![XRP](https://img.bgstatic.com/multiLang/coinPriceLogo/ripple.png)
![Solana](https://img.bgstatic.com/multiLang/coinPriceLogo/solana.png)
![BNB](https://img.bgstatic.com/multiLang/coinPriceLogo/binance.png)
![USDC](https://img.bgstatic.com/multiLang/coinPriceLogo/usdc.png)
![Dogecoin](https://img.bgstatic.com/multiLang/coinPriceLogo/dogecoin.png)
![Cardano](https://img.bgstatic.com/multiLang/coinPriceLogo/cardano.png)
![TRON](https://img.bgstatic.com/multiLang/coinPriceLogo/tron.png)