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SharpLink Gaming, the second-biggest Ethereum treasury firm globally, has started a $1.5 billion share buyback program as its stock trades below its Net Asset Value (NAV). To kick off the program, SharpLink bought approximately 939,000 shares of its common stock at an average price of $15.98, the company said in a statement. That helped send SharpLink’s share price up 6% to close Tuesday’s trading session off at $16.69, according to Google Finance. The buying activity continued in after-hours trading, with the company’s share price climbing another 0.48%. SharpLink Gaming share price (Source: Google Finance) SharpLink Gaming shares remain down over 2% in the past week and by more than 25% in the past month. The drop in SharpLink’s NAV means that investors are valuing the company at less than the dollar value of the total ETH it holds on its balance sheet.  NEW: SharpLink begins utilizing its $1.5B share buyback program, repurchasing ~1M shares of...

Ark's GBTC weight in the portfolio actually increased despite the fund selling 500,000 shares in the past month. Cathie Wood's Ark Invest offloaded a chunk of its Grayscale Bitcoin Trust (GBTC) shares since November's Bitcoin (BTC) price lows, the latest data shows. Cathie Wood's Ark short-term cautious on GBTC Ark Invest added 450,272 GBTC share s worth $4.5 million to its ARK Next Generation Internet ETF (ARKW) in November 2022. At the time, GBTC was trading in the $7.46-$9.48 range versus $12.25 in January 2023. GBTC price, of course, recovered alongside Bitcoin, rising roughly 40% from its November lows. The recovery in January also helped reduce the GBTC "discount" from nearly 50% to 40%, according to YCharts. GBTC daily price chart. Source: TradingView Interestingly, the share price rebound coincided with a reduction in ARKW's GBTC holdings by 500,000 shares, suggesting profit taking in the short term. GBTC shares (purple) in Ark's ETF versus it...