Cathie Wood Buys 176,000 Shares of Bitcoin Fund Trust GBTC Again

Cathie Wood's fund company Ark Investment Management continued to buy 176,000 shares of Grayscale Bitcoin Trust (BTC) (OTC:GBTC), the world's largest cryptocurrency fund, worth about $1.5 million, as bitcoin fell to a two-year low.

Cathie Wood's current buy comes at a record negative premium of 45% for GBTC.

Last week, ARK bought 315,000 shares of GBTC, worth about $2.8 million. Currently, ARK holds 6.4 million shares of GBTC, worth about $5,300.

At the time of writing, the cryptocurrency market rallied slightly, with Bitcoin back at the $16,000 mark and Ether at $1,163.