Last month, Cathie Wood’s investment firm, ARK Invest, sold 700,000 shares of Grayscale Bitcoin Trust (GBTC) despite Bitcoin (Bitcoin) rose to 17-month highs thanks to excitement over a possible spot Bitcoin ETF (exchange-traded fund).

According to ARK daily trading data viewed by Cointelegraph, ARK’s Next Generation Internet ETF (ARKW) sold 36,168 GBTC shares on November 22, for a total of 697,768 GBTC downloads since October 23.

Second Google FinanceOn November 22, ARKW dropped nearly $1 million worth of GBTC as the Grayscale trust traded around $30 and then closed at $30.50. On November 23, US markets were closed for Thanksgiving.

ARC Grayscale started selling shares of Bitcoin Trust On October 23, 2023, Bitcoin was heading towards $34,000. Prior to this, the first GBTC transaction reported by ARK occurred in November 2022. Sold 450,272 GBTC shares.

Related: Grayscale meets with SEC to discuss details of spot Bitcoin ETF

After selling nearly 700,000 GBTC shares last month, ARKW still owns $131.8 million worth of GBTC shares, or more than 4.3 million GBTC shares. Second According to ARKW’s official data, as of November 24, Grayscale Bitcoin Trust represents 9.2% of ARKW’s portfolio, ranking third after Coinbase and Roku.

Second data The ARK ETF, which unloads funds from Google Finance, is up more than 68% year to date compared to +271% recorded by the Grayscale fund.

Meanwhile, Bitcoin is up 125% since the beginning of the year, approaching $38,000 on November 16, the highest level since May 2022. Cointelegraph Markets Pro.

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