BBX Message: Yesterday, Ark Invest publicly confirmed through its daily transparency disclosure that, for the entire month of June, it collectively purchased over $75 million in cryptocurrency-related public company stocks across its three ETFs—ARKK, ARKW, and ARKF: approximately $44 million in Coinbase, $25.25 million in Circle, and $8.2 million in Bullish. During the purchase periods, the share prices of these three companies declined by approximately 20%, 40%, and 27%, respectively. Cathie Wood’s “buy the dip” strategy reached its strongest monthly intensity of the year in June’s “blood moon,” sharply contrasting with BlackRock’s IBIT, which recorded its largest-ever monthly outflow of $3.3 billion during the same period. Key Highlights: — Ark Invest (NYSE: $ARKK / $ARKW / $ARKF): Purchased over $75 million in crypto-related stocks in June—the largest monthly crypto allocation of the year. Breakdown: ~$44M in COIN, ~$25.25M in CRCL, ~$8.2M in BLSH. During these purchases, the stocks fell approximately 20%, 40%, and 27% for the month, respectively. Ark’s daily transparency report also revealed a sale of ~$29 million in Robinhood (HOOD) on June 17. Post-purchase, Coinbase became ArkK’s eighth-largest holding (~3.71%), while Robinhood remained its fourth-largest holding (~4.87%). — Coinbase Global (Nasdaq: $COIN): Ark increased its position by over 111,000 shares, totaling ~$44 million in June; the stock declined ~20% for the month. As a co-founder of Open USD (a stablecoin backed by 140 institutions), Coinbase competes and collaborates with Circle’s USDC. Ark first established a position at Coinbase’s IPO in 2021 and added to its stake in February, March, and June of this year during price dips. Benchmark maintains a $270 price target. — Bullish (NYSE: $BLSH): Ark purchased ~$8.2 million in Bullish during June; the stock fell ~27% for the month, closing at ~$23.43 at month-end. Q1 adjusted revenue was ~$92.8 million, with digital asset trading volume at $51.8 billion. Bullish is the parent company of CoinDesk. Ark initiated its position in May and continued adding to it in June. Source: bbx.com/
Ark Invest purchases over $75 million in Coinbase, Circle, and Bullish in June
AiCoinShare
Summary
In June, Ark Invest added over $75 million in crypto-related stocks to its ARKK, ARKW, and ARKF ETFs, according to crypto news from AiCoin. The firm purchased $44 million in Coinbase, $25.25 million in Circle, and $8.2 million in Bullish as their share prices declined. This marked Ark Invest’s largest crypto-related investment this year, while BlackRock’s IBIT experienced a $3.3 billion outflow. Crypto today reflects mixed institutional activity as market conditions evolve.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.