Ark Invest bought $38.7 million worth of shares in crypto companies on Thursday as the broader cryptocurrency market extended its losses.<\/p>\n
The purchases echo Wednesday’s activity, when it bought a combined $39.6 million<\/a> of Bullish (BLSH), Bitmine Immersion Technologies (BMNR) and Circle Internet (CRCL).<\/p>\n The St. Petersburg, Florida-based investment manager purchased 42,419 shares in Coinbase (COIN), worth $10.1 million based on Thursday’s closing price of $238.16, 7.44% lower on the day.<\/p>\n The CoinDesk 20 Index (CD20<\/a>) fell over 4.7% on Thursday.<\/p>\n The Cathie Wood-led firm also bought 380,244 shares in Bitmine Immersion Technologies, worth just under $10 million, according to an emailed disclosure on Friday.<\/p>\n BMNR dropped by more than 10% to close at $26.02<\/a>, its lowest point since adopting an Ethereum-focused digital treasury strategy in June<\/a>. <\/p>\n Ark added 264,534 Bullish shares and 134,650 Circle Internet Group shares, worth around $9.7 million and $9 million respectively. <\/p>\n CRCL fell 4% on Thursday<\/a> to $66.93, while BLSH held its own with a 0.3% rise to $36.30<\/a>. <\/p>\n Crypto exchange Bullish’s parent company is also the owner of CoinDesk.<\/p>\n","protected":false},"excerpt":{"rendered":"Ark Invest bought $38.7 million worth of shares in crypto companies on Thursday as the broader cryptocurrency market…\n","protected":false},"author":2,"featured_media":55343,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[25135,8121,202,204,203,199,201,200],"class_list":["post-55342","post","type-post","status-publish","format-standard","has-post-thumbnail","category-st-petersburg","tag-ark-invest","tag-cathie-wood","tag-st-pete","tag-st-pete-headlines","tag-st-pete-news","tag-st-petersburg","tag-st-petersburg-headlines","tag-st-petersburg-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/55342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=55342"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/55342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/55343"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=55342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=55342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=55342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}