Ark adds $9.1M in circle and bullish as crypto stocks keep sliding
- Ark Invest purchased $7.6 million in Circle shares and $1.5 million of Bullish stock on Tuesday.
- The acquisition occurred as crypto prices remained soft, with bitcoin near $87,500.
- Ark's largest crypto holdings include Coinbase, accounting for 4% of its total holdings, and Circle, making up 2%.
Ark Invest bought about $7.6 million of Circle (CRCL) and $1.5 million of Bullish (BLSH) stock on Nov. 25, extending its crypto-equity buying even as both names traded lower.
Bullish is the parent company of CoinDesk.
The move came while crypto prices were still soft, with Bitcoin hovering near $87,500. Bullish closed at $40.50, down 2.41%, while Circle fell 3.62% to $70.11.
Ark also purchased 15,197 shares of Coinbase’s (COIN) stock, worth roughly $3.86 million at about $254 per share. COIN is down around 30% on-month, matching the rest of the sector's broad decline.
The Nov. 25 trades follow Ark’s larger Nov. 20 dip buy, when the firm accumulated hundreds of millions of dollars in crypto-related equities across its flagship ETFs as bitcoin crashed.
In total, ARK holds $151.8 million of BLSH shares across its various funds.
Its largest crypto holdings are Coinbase (COIN), which accounts for 4% of its total holdings, or $506.4 million, and Circle, which comes in at 2% of holdings or around $255 million.
Author
CoinDesk Analysis Team
CoinDesk
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