Ark Invest continued its cryptocurrency stock purchases on Thursday, spending $38.7 million as the broader crypto market extended its losses.
The firm’s buying streak follows Wednesday’s acquisitions, when it spent $39.6 million on Bullish (BLSH), Bitmine Immersion Technologies (BMNR), and Circle Internet (CRCL).
On Thursday, Ark acquired 42,419 Coinbase (COIN) shares, worth $10.1 million at a closing price of $238.16, down 7.44% for the day. The CoinDesk 20 Index (CD20) fell more than 4.7% during the session.
The investment manager also purchased 380,244 shares of Bitmine Immersion Technologies, valued just under $10 million, according to a Friday disclosure. BMNR closed at $26.02, down over 10%, its lowest since implementing an Ethereum-focused digital treasury strategy in June.
Additionally, Ark added 264,534 Bullish shares and 134,650 Circle Internet Group shares, valued at roughly $9.7 million and $9 million, respectively. CRCL fell 4% to $66.93, while BLSH inched up 0.3% to $36.30.
Notably, Bullish, the crypto exchange, is also the parent company of CoinDesk.
