Ark Invest sold more Grayscale Bitcoin Trust (OTC:GBTC) units on Friday, as the fund recovered this week amid a rally in its underlying asset Bitcoin (CRYPTO: BTC).

What Happened: On Friday, the Cathie Wood-led firm’s Ark Next Generation Internet ETF (NYSE:ARKW) sold 66,342 units of GBTC, valued at $1.66 million based on its closing price of $25.07. The firm was a seller of GBTC in three sessions this week.

The cumulative value of GBTC units Ark sold this week amounted to about $6.05 million. Bitcoin was on a tear this week on hopes of regulatory approval of a spot Bitcoin ETF. The apex crypto has gained about 13.7% since last Saturday.

See Also: How To Buy Bitcoin (BTC)

Bulking Up On Block. Ark, meanwhile, added to its position in Block, Inc. (NYSE:SQ), a Jack Dorsey-company with exposure to Bitcoin. Users of Block’s Cash App can buy, sell, send and receive Bitcoin. 

Ark through ARKW, Ark Innovation ETF (NYSE:ARKK) and Ark Fintech Innovation ETF (NYSE:ARKF) bought 310,100 shares of Block valued at $12.4 million.

Ark’s flagship ETF, ARKK, closed Friday’s session down 1.90% at $34.10, according to Benzinga Pro data.

Read Next: Cathie Wood’s Ark Stays Bullish On Tesla Despite Short-Term ‘Growing Pains’ As EV Maker ‘Years Ahead’ Of Rivals

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