Ark Invest purchased over $75 million in shares of cryptocurrency companies during June as their prices fell:
- The firm bought $44 million worth of shares in Coinbase, $25 million in Circle Internet, and $8.2 million in Bullish:
- Circle shares slumped 40%, ending the month at $62.63:
Ark Invest typically buys 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:
The St. Petersburg, Florida-based investment manager bought $44 million worth of shares in crypto exchange Coinbase (COIN), $25.25 million in Circle Internet (CRCL), and $8.2 million in crypto exchange Bullish (BLSH):
Circle shares slumped 40% in June, ending the month at $62.63. The decline included an 18% drop on June 30 following the debut of rival stablecoin Open USD:
COIN ended June just under 20% lower at $146.19, while BLSH fell 27% to $23.43:
