ARK Invest buys another $25.4 million of COIN, BLSH, BMNR as crypto stocks slide
CoinDesk
ARK Invest purchased $25.4 million in crypto stocks, including Coinbase, Bullish, and Bitmine, amid a slide in cryptocurrency prices.Summary
ARK Invest, led by Cathie Wood, acquired an additional $25.4 million worth of crypto-related stocks on Wednesday as major cryptocurrencies and associated equities declined. The purchases included $10.6 million of Bitmine Immersion Technologies (BMNR), $8.85 million of Bullish (BLSH), and $5.91 million of Coinbase (COIN). This buying activity followed a nearly $60 million spree on Monday, coinciding with another market downturn. The firm typically buys these holdings when prices drop to gain exposure at a better value, even as Bitcoin experienced a 2% drop on the day.
(Source：CoinDesk)