Ark Invest Bought the Dip With Over $75M in Crypto Stocks in June
Alina Collins
While bitcoin posted its worst monthly performance in four years, Ark Invest bought over $75 million in crypto-company shares, betting that Coinbase, Circle, and Bullish will rebound from a deep drawdown.
Where did the $75 million go?
Ark bought $44 million in Coinbase (COIN), $25.25 million in Circle (CRCL), and $8.2 million in Bullish (BLSH), all valued at each day's closing price.
Coinbase is the largest regulated U.S. crypto exchange. Circle issues USDC — a stablecoin pegged one-to-one to the U.S. dollar. Bullish is also a crypto exchange.
This means → Ark concentrated most of its firepower on exchanges, the layer it sees as crypto's most durable infrastructure.
How far did these three stocks fall?
Circle plunged 40% in June, closing at $62.63. On June 30 alone it dropped 18%, triggered by the launch of rival stablecoin Open USD that same day.
Open USD is backed by over 140 institutions including Coinbase, Stripe, Visa, Mastercard, and BlackRock. In plain terms = Circle's core business suddenly faces a competitor with a coalition of heavyweights behind it.
Coinbase fell nearly 20%, closing at $146.19. Bullish dropped 27%, closing at $23.43.
Why is Ark buying into the downturn?
Ark Invest, headquartered in St. Petersburg, Florida, has a long track record of adding crypto positions during sell-offs.
This reflects an unchanged long-term conviction — the deeper the dip, the more aggressively Ark buys.
Whether the bet pays off hinges on whether crypto stabilizes near current levels; further declines would put this batch of positions under short-term pressure.
Content is for reference only, not financial advice.