#ARK Invest Sold $5M Worth of Grayscale Bitcoin Trust Shares Last Week

The sales took place as a discount for Grayscale's Bitcoin investment vehicle narrowed to its lowest in over two years, a sign of escalating optimism that a spot Bitcoin ETF will finally be approved in the U.S.

Cathie Wood's ARK Invest sold more shares in Grayscale Bitcoin Trust (GBTC) last week, offloading 163,722 to earn $5.02 million at closing prices while the investment vehicle's discount to its net asset value narrowed to the least in more than two years. The sales took the November total of shares dropped by the Next Generation Internet ETF (ARKW) to 579,077, earning it about $16.9 million based on the relevant day's closing share price.