On November 6th, ARK Invest adjusted its investment portfolio and purchased 113,326 shares of Block Inc. through its flagship products, ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF). Based on Block's closing price of $49.52 that day, the total value of the transaction was approximately $5.61 million. In addition, Ark Invest sold approximately $3.76 million worth of GBTC through ARKW. Data shows that GBTC's closing price on Monday was $26.95. Previously, Cathie Wood, founder of investment management company ARK Invest, stated that in addition to having potential in an inflationary environment, Bitcoin can also serve as a hedge tool against deflation.
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ARK Invest sold approximately US$3.76 million worth of GBTC yesterday and bought US$5.61 million in Block shares.
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