Ark Invest Buys $77.5 Million of Coinbase, Circle Shares in June Market Dip

USDC-0.04%
According to emailed disclosures, Ark Invest purchased $77.5 million in shares of Coinbase, Circle Internet Group, and Bullish in June, capitalizing on declining crypto stocks. The St. Petersburg-based investment manager bought approximately $44 million of Coinbase, $25.25 million of Circle (issuer of USDC), and $8.2 million of Bullish. The purchases coincided with a sharp decline in crypto equities, as Coinbase fell nearly 20% to $146.19, Circle dropped 40% to $62.63, and Bullish declined 27% to $23.43 during the month.
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