Cathie Wood purchases shares of the tumbling Grayscale Bitcoin Trust

Cathie Wood, a longtime crypto optimist maintained her bullish stance on Bitcoin ( BTC-USD ) as the asset manager grabbed more than 300K shares of the tumbling Grayscale Bitcoin Trust ( OTC:GBTC ) on Monday. According to ARK Invest’s trade disclosures, Wood added a total of 315,259 shares of GBTC to her ARK Next Generation Internet ETF ( NYSEARCA: ARKW ). The actively managed exchange traded fund currently holds a 4.60% weighting towards GBTC, which equates to a $54.58M market valuation. GBTC also is ARKW’s ninth-largest portfolio position. Wood secured positions in GBTC as the trust declined to its lowest trading levels since April 2020. GBTC has plunged alongside the price of Bitcoin which remains under the $17K level. Both GBTC and BTC-USD have slid of late, but it's not just recent news. The two have plunged in 2022 along with Woods ARKW. On a bigger picture time frame, an investor can see that year-to-date ARKW has found itself to be -61.7% . At the same time, GBTC and BTC-USD declined on the year by 73.8% and 64.2% . In related ARK Invest news, Wood’s flagship fund ARK Innovation ETF ( NYSEARCA: ARKK ) topped its best trading day ever last week in its more than eight-year history.