Cathie Wood fate on shares for Grayscale Bitcoin Trust
- Cathie Wood has been trimming her stake in Grayscale Bitcoin Trust.
- But she did tout GBTC as a top pick at the Sohn Australia conference.
- Bitcoin climbed to a new year-to-date high of over $38,000 today.
Cathie Wood – the Founder of Ark Invest has been trimming her position in the Grayscale Bitcoin Trust in recent weeks.
How many shares of GBTC did she sell?
Since October 23rd, the influential investor has sold over 700,000 shares of GBTC.
The most recent unloading was executed before Thanksgiving on Wednesday which included 36,168 shares of the Bitcoin Trust that offers exposure to BTC as a security.
Wood choosing to lower her stake in Grayscale Bitcoin Trust is particularly interesting considering the world’s largest cryptocurrency has been on the rise lately. In fact, it made a new year-to-date high of over $38,000 today.
And it’s not like the famed investor is cautious on Bitcoin at all. In a recent interview, she predicted it to actually be worth over $1.0 million by the end of this decade.
Wood touts Bitcoin Trust as a top pick
Cathie Wood did back the GBTC as a top pick today at the Sohn Australia conference, though.
Ark held about 5.6 million shares of the trust at the end of September that placed it on the list of its top five holders, as per data from Bloomberg.
Interestingly, Bitcoin continues to climb in recent days even though Changpeng Zhao stepped down as the Chief Executive of Binance after pleading guilty to charges of money laundering – perhaps because many expect the development to be a positive for the pending approval of a Spot Bitcoin ETF.
What was in particular the reason for Wood trimming her position in the Grayscale Bitcoin Trust, however, remains unknown since Ark has not made an official comment on it so far.
