Ark Invest buys over $75 million of crypto stocks during June selloff
The purchases included about $44 million of Coinbase, $25.25 million of Circle Internet and $8.2 million of Bullish as Bitcoin logged its weakest month in four years.
The primary CoinDesk article confirms Ark Invest bought more than $75 million of Coinbase (COIN), Circle (CRCL) and Bullish (BLSH) shares during June's market downturn. BlockBeats and Odaily, both citing CoinDesk, provide the specific breakdown matching the claim precisely: $44M Coinbase, $25M Circle, $8.2M Bullish. CryptoBriefing independently corroborates ~$75M total with $44M into Coinbase. The 'weakest month in four years' Bitcoin detail could not be directly verified but the broader June selloff context is consistent across all sources.
Ark Invest bought more than $75 million of crypto-related stocks during June's market decline, adding about $44 million of Coinbase (COIN), $25.25 million of Circle Internet (CRCL) and $8.2 million of Bullish (BLSH), CoinDesk reported. The buying came during a broad pullback that also saw Bitcoin post its worst monthly performance in four years. Circle fell 40% in June to $62.63 and dropped another 18% on June 30 after stablecoin Open USD (OUSD) launched, while COIN slid about 20% to $146.19 and BLSH declined 27% to $23.43. The purchases suggest Ark used the selloff to add exposure to crypto-linked equities rather than the underlying tokens directly.
- stablecoin: Token designed to hold steady value
- Open USD (OUSD): A stablecoin launched on June 30
- crypto-linked equities: Stocks tied to the digital-asset industry