Cathie Wood’s ARK purchased more Shares of Grayscale Bitcoin Trust in the dip

Cathie Wood’s ARK purchased an additional 140,157 shares of Grayscale Bitcoin Trust. Now it has 9 million GBTC shares with a total market value of $216 million. Also indicated that the largest cryptocurrency could reach $500,000 in the long run.

On Tuesday, trading records showed that Cathie Wood’s ARK purchased an additional 140,157 shares of Grayscale Bitcoin Trust for its ARK Next Generation Internet ETF. This happened just after the well-known asset management company added 310,000 GBTC shares on Monday.

ARK Next Generation Internet ETF, which focuses primarily on technologies such as deep learning, big data, artificial intelligence, and blockchain, currently has 9 million GBTC shares with a total market value of $216 million. Now, the shares of Grayscale’s crown jewel indicate its eighth biggest holding.

In addition, ETF also has 234 million shares of Coinbase.  Earlier this week, it added more exposure to the largest cryptocurrency exchange in the United States.

Tesla, Twitter, and Shopify are the three major investments in the largely tracked exchange-traded fund.  

ARK’s investment buy bid came during a significant correction of the market. Bitcoin fell to $ 29,293, its lowest level up to the month on July 20, and dragged the rest of the market.

Wood also predicted a couple of days before, the largest cryptocurrency could reach $500,000 in the long run.

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