Ark Invest has a tendency to load up on shares in cryptocurrency companies when their prices are depressed, and June was no exception.
Bitcoin , the largest cryptocurrency, recorded its worst month in four years, and digital asset firms’ share prices suffered accordingly, which Ark read as a buying opportunity.
The St. Petersburg, Florida-based investment manager bought $44 million worth of shares in crypto exchange Coinbase (COIN), based on the closing prices of the days on which purchases were made. It purchased $25.25 million worth of equity in Circle Internet (CRCL), issuer of the world’s second-largest stablecoin USDC, and $8.2 million worth of crypto exchange Bullish (BLSH), the parent company of CoinDesk, according to…
