SQ - Cathie Wood's Ark Invest Buys Block And Dumps GBTC Shares Amid Bitcoin Ethereum Rally | Benzinga
On Monday, Cathie Wood-led Ark Invest made significant trades, notably buying shares of Block Inc (NYSE:SQ) and Grayscale Bitcoin Trust (OTC:GBTC). This move comes amid recent appreciation in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) prices. The rise in cryptocurrency prices took place after BlackRock filed an amendment with the Securities and Exchange Commission for its spot Bitcoin ET
The Block Inc. Trade
Ark Invest’s decision to buy a substantial amount of shares in Block, a company led by Jack Dorsey, was particularly noteworthy. This move followed Wood’s vocal criticism of a “wildly misleading” short report on Block by Hindenburg Research.
On Monday, Ark purchased 347,692 shares of Block, a provider of financial services and digital payments, through ARK Next Generation Internet ETF (NYSE:ARKW). The transaction was valued at $25.7 million. Block shares closed ...