Ark Invest scoops up more Bitmine, Circle shares as crypto slump continues
The Block
Ark Invest purchased millions in shares of Bitmine, Bullish, and Circle amid the ongoing cryptocurrency market downturn.Summary
Ark Invest continued to increase its exposure to crypto-related stocks during the market slump by purchasing additional shares on Tuesday. The asset manager bought $3.25 million worth of Bitmine shares, $3.46 million in Bullish, and $2.4 million in Circle through its exchange-traded fund. Smaller positions were also added in Block Inc. and Coinbase. These purchases follow similar moves on Monday, capitalizing on the significant discounts in these stocks due to the broader crypto market decline. On the day of the trades, Bitmine, Bullish, Circle, Block, and Coinbase all saw price drops, reflecting the weakness in Bitcoin and Ether prices.
(Source：The Block)