Ark Invest Goes Bargain Hunting, Buys Almost $40M Crypto Stocks as Equity Slide Continues
CoinDesk
Ark Invest purchased $38.7 million in crypto-related equities for the second consecutive day amid a market sell-off.Summary
Ark Invest, led by Cathie Wood, continued its buying spree in crypto-related equities on Thursday, acquiring shares worth $38.7 million, following a similar purchase of $39.6 million the previous day. The purchases occurred as the broader crypto market extended its losses, with the CoinDesk 20 Index (CD20) falling over 4.7%.
The firm specifically bought $10.1 million worth of Coinbase (COIN) shares, nearly $10 million in Bitmine Immersion Technologies (BMNR) shares, around $9.7 million in Bullish (BLSH) shares, and $9 million in Circle Internet Group (CRCL) shares. While most holdings dropped, with BMNR hitting a new low since adopting its Ethereum strategy, BLSH saw a slight rise.
(Source：CoinDesk)