Ark Invest bought more than $75 million of COIN, CRCL, BLSH shares during June bloodbath

Ark Invest has a tendency to load up on shares in cryptocurrency companies when their prices are depressed, and June was no exception.

Bitcoin BTC $ 60,204.42 , the largest cryptocurrency, recorded its worst month in four years , and digital asset firms' share prices suffered accordingly, which Ark read as a buying opportunity.

The St. Petersburg, Florida-based investment manager bought $44 million worth of shares in crypto exchange Coinbase (COIN), based on the closing prices of the days on which purchases were made. It purchased $25.25 million worth of equity in Circle Internet (CRCL), issuer of the world's second-largest stablecoin USDC, and $8.2 million worth of crypto exchange Bullish (BLSH), the parent company of CoinDesk, according to emailed disclosures.

Shares of Circle slumped 40% in June, ending the month at $62.63 . The decline included an 18% drop on June 30 following the debut of rival stablecoin Open USD , which is backed by more than 140 companies, including Coinbase, Stripe, Visa, Mastercard and BlackRock.

COIN ended June just under 20% lower at $146.19 , while BLSH fell 27% to $23.43 .

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