Ark Invest buys $75 million in crypto stocks during June selloff
As crypto markets remain under pressure through June, Ark Invest increases its exposure to digital asset-linked equities as share prices fall across the sector. The buying spree totals more than $75 million and centers on Coinbase, Circle Internet and Bullish as bitcoin posts its weakest month in four years.
Highlights
- Ark Invest acquires $44 million in Coinbase, $25.25 million in Circle, and $8.2 million in Bullish stock during June selloff.
- Circle shares decline 40% to $62.63 in June, including an 18% drop on June 30 following rival Open USD's launch backed by major companies.
- Coinbase closes June down just under 20% at $146.19, while Bullish falls 27% to $23.43 amid Bitcoin's worst month in four years.
June purchases across crypto equities
As reported by CoinDesk, Ark Invest buys $44 million worth of Coinbase shares, $25.25 million of Circle Internet stock and $8.2 million of Bullish shares during June, based on the closing prices on the days the purchases are made.The St. Petersburg, Florida-based investment manager is known for buying into cryptocurrency companies when valuations weaken, and June follows that pattern again. Circle is the issuer of USDC, the world's second-largest stablecoin, while Bullish is the parent company of CoinDesk.
Market pressure hits sector valuations
Bitcoin, the largest cryptocurrency, records its worst month in four years, adding pressure to listed digital asset companies and creating what Ark appears to view as a buying opportunity.Circle shares slump 40% in June to end the month at $62.63, including an 18% drop on June 30 after the launch of rival stablecoin Open USD. The new stablecoin is backed by more than 140 companies, including Coinbase, Stripe, Visa, Mastercard and BlackRock.
Coinbase ends June down just under 20% at $146.19, while Bullish falls 27% to $23.43. The moves underline how sharply crypto-linked equities are reacting to the broader market downturn.
Our earlier coverage of the early-July pullback in U.S. stock futures highlighted how markets entered the second half with major indexes near highs after a strong first-half run. We noted that gains were heavily driven by AI and semiconductor stocks, while investors closely watched Fed signals, inflation, and incoming economic data for clues on whether momentum could hold or a correction risk was rising.
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