Grayscale Bitcoin Trust among ARK’s top ETF performers in Q2 2023

Digital currency investment product, Grayscale Bitcoin Trust (GBTC), was one of the best performers at Cathie Wood’s ARK Invest in the second quarter of 2023.

The latest quarterly report by ARK doesn’t include the company’s most recent large sales of the Coinbase stock. As Coinbase shares reached above $90 in mid-July, ARK has been actively taking profits, selling nearly one million Coinbase shares in July, worth around $97 million.

Despite selling the stock, ARK’s CEO Wood remains bullish on Coinbase, mainly due to Ripple’s latest legal progress in the long-running action initiated by the United States Securities and Exchange Commission. On July 17, Wood reiterated her bullish stance on Bitcoin (BTC), predicting it will hit $1.5 million per coin one day.

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