Ark Invest Adds Nearly $40M of Crypto Equities as Market Declines

Ark Invest, led by Cathie Wood, has purchased an additional $38.7 million in shares of various crypto companies, including Coinbase, Bitmine Immersion Technologies, Circle Internet Group, and Bullish. This buying spree comes as the broader cryptocurrency market experiences significant losses, with the CoinDesk 20 Index falling over 4.7%. On Thursday alone, Ark acquired 42,419 shares of Coinbase valued at $10.1 million, alongside purchases of 380,244 shares in Bitmine Immersion Technologies worth nearly $10 million. Additionally, they obtained 264,534 shares of Bullish and 134,650 shares of Circle Internet Group, totaling around $9.7 million and $9 million respectively. The strategic acquisitions reflect Ark's confidence in these companies amidst a challenging market environment, particularly as key cryptocurrencies experience fluctuations.

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