Cathie Wood’s ARK Sells Over 700,000 Shares of Grayscale Bitcoin Trust in Past Month

Cathie Wood, the CEO of ARK Investment Management, has recently sold over 700,000 shares of the Grayscale Bitcoin Trust over the last month. ARK has been a major holder of the trust, holding a 6.6% stake in the trust at the end of December.

Wood has made a significant bet on Bitcoin over the past year, having invested in several crypto startups such as Coinbase and Galaxy Digital. She has also been vocal about her long-term bullish outlook on the digital currency, calling it “unstoppable” and “the gold of the 21st century.”

The massive sell-off, however, suggests that ARK is beginning to take profits, or at least rotate out of its positions in Grayscale’s Bitcoin Trust. It is unclear if the sell-off is part of a larger strategy for Wood and her team or simply a move to lock in profits after a huge run-up in value for Bitcoin over the past year.

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