Cathie Wood’s Ark Investment Management purchased 176,945 shares of Grayscale’s Bitcoin Trust (GBTC) on Monday, as the cryptocurrency market fell to a two-year low. The purchase comes as GBTC shares are trading at a record 45% discount to their net asset value, with negative sentiment spreading following the collapse of cryptocurrency exchange FTX. Last week, Ark purchased 315,259 GBTC shares for $2.8 million, doubling down in the bear market. The fund now owns 6.4 million GBTC shares worth $53 million.
