For the Second Straight Day, Ark Invest Injects Nearly $40M into Crypto Equities During Market Decline

Ark Invest extended its crypto stock buying streak on Thursday, purchasing $38.7 million in shares as the broader cryptocurrency market continued to slide.

The activity follows Wednesday’s purchases, when the firm spent $39.6 million on Bullish (BLSH), Bitmine Immersion Technologies (BMNR), and Circle Internet (CRCL).

On Thursday, Ark acquired 42,419 Coinbase (COIN) shares, valued at $10.1 million based on the closing price of $238.16, down 7.44% for the day. The CoinDesk 20 Index (CD20) fell more than 4.7%.

The firm also added 380,244 shares of Bitmine Immersion Technologies, worth just under $10 million, according to a Friday disclosure. BMNR closed at $26.02, dropping over 10%, its lowest level since adopting an Ethereum-focused digital treasury strategy in June.

Additionally, Ark purchased 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 rose slightly 0.3% to $36.30.

Bullish, the crypto exchange, is also the parent company of CoinDesk.