Ark Invest Goes Bargain Hunting, Buys Almost $40M Crypto Stocks as Equity Slide Continues
Ark Invest bought $38.7 million worth of shares in crypto companies on Thursday as the broader cryptocurrency market extended its losses.
The purchases echo Wednesday’s activity, when it bought a combined $39.6 million of Bullish (BLSH), Bitmine Immersion Technologies (BMNR) and Circle Internet (CRCL).
The St. Petersburg, Florida-based investment manager purchased 42,419 shares in Coinbase (COIN), worth $10.1 million based on Thursday’s closing price of $238.16, 7.44% lower on the day.
The CoinDesk 20 Index (CD20) fell over 4.7% on Thursday.
The Cathie Wood-led firm also bought 380,244 shares in Bitmine Immersion Technologies, worth just under $10 million, according to an emailed disclosure on Friday.
BMNR dropped by more than 10% to close…
