Investing in Web 3.0: Cathie Wood’s ARK Dumps 800K Grayscale Bitcoin Trust Shares

Investing in Web 3.0

ARK Invest, a potential United States Bitcoin (BTC) exchange-traded fund (ETF) applicant, has sold another large batch of Grayscale Bitcoin Trust (GBTC) stock. On Dec. 18, ARK sold 809,441 GBTC from its ARK Next Generation Internet ETF (ARKW). This brought the total market value of the sale to $27.9 million, according to data from TradingView.

The divestment has reduced ARK’s exposure to the Grayscale Bitcoin Trust. GBTC is now the third-largest asset in the ARKW portfolio, accounting for 6.84% of total assets with a market value of $117 billion. Coinbase and Roku are the two largest assets, making up 11% and 8% of ARKW’s total assets, respectively.

As Web 3.0 technologies continue to develop, investors are looking for ways to capitalize on the new internet. Jack Dorsey, for example, is investing in Web 3.0 tokens and stocks. There are plenty of options for those looking to invest in Web 3.0, including a list of Web 3.0 websites, tokens, and stocks. The Internet of Things is also being powered by Web 3.0, providing investors with more opportunities to capitalize on the new internet.

Investing in Web 3.0

As ARK has continued to divest its holdings in GBTC, it has simultaneously been amassing shares of Block, the financial payment processor co-founded by Twitter (now X) co-founder Jack Dorsey.

On December 18, ARKW added another 347,692 Block shares valued at $25.7 million at the closing share price. With the aggressive buying, Block’s stock has been gaining ground on GBTC, reaching a weight of 6.83% of ARKW’s total assets with a market value of $116.9 billion.

On December 7, Block unveiled its own Bitcoin wallet, dubbed Bitkey, which is available as a mobile application or hardware storage and can be accessed in over 95 countries. Coinbase and Cash App are among the first global partners that have joined forces with Bitkey.

As the world moves towards Web 3.0, investors are presented with many opportunities to get involved in the new internet. Jack Dorsey and Block are just one example of the stocks and tokens available to those looking to invest in Web 3.0. There is a wide range of websites, tokens, and stocks available to those seeking to explore the potential of the Internet of Things and the new internet.