While Bitcoin’s recent dip below $30,000 made even some of the most ardent bulls panic, Cathie Wood’s ARK Investment Management bought the dip.
The ARK Next Generation Internet ETF purchased 1,046,002 shares of Grayscale Bitcoin Trust on Tuesday, according to the firm’s daily trade summary.
As of Wednesday, the fund has a 4.57 weight in GBTC. The trust’s shares represent ARK Next Generation Internet ETF’s third biggest holding (behind only Square and Tesla).
Meanwhile, ARK Innovation ETF also bought 214,718 shares of Coinbase, the largest U.S. crypto exchange.