Ark Invest bought more than $75 million of crypto shares during June bloodbath
CoinDesk 2026-07-01 11:42:22
Context: Ark Invest, a St. Petersburg, Florida-based investment manager, has a history of "buying the dip" in cryptocurrency companies when their prices are depressed. In June, the firm took advantage of the declining prices of crypto shares, purchasing over $75 million worth of shares in various companies. This buying spree occurred during a time when the cryptocurrency market experienced significant declines, with Bitcoin recording its worst month in four years.
Key Facts
- Ark Invest purchased $44 million worth of shares in Coinbase, based on the closing prices of the days on which the purchases were made.
- The firm bought $25.25 million worth of equity in Circle Internet, the issuer of the world's second-largest stablecoin USDC.
- Ark Invest also acquired $8.2 million worth of crypto exchange Bullish, the parent company of CoinDesk.
- Circle's shares slumped 40% in June, ending the month at $62.63, including an 18% drop on June 30 following the debut of rival stablecoin Open USD.
- Coinbase's shares ended June just under 20% lower at $146.19, while Bullish fell 27% to $23.43.