On Tuesday, Cathie Wood-led Ark Invest executed significant trades, including purchases of Circle Internet Group Inc. (NYSE:CRCL), Coinbase Global Inc. (NASDAQ:COIN), Robinhood Markets Inc. (NASDAQ:HOOD), ARK 21Shares Bitcoin ETF (BATS:ARKB), and Bitmine Immersion Technologies Inc. (NYSE:BMNR). These trades occurred as the cryptocurrency market faced extreme volatility, with major cryptocurrencies like Bitcoin experiencing notable declines.
Leading cryptocurrencies extended their selloff as Bitcoin (CRYPTO: BTC) slid below $73,000 to its lowest level since November 2024, triggering more than $750 million in liquidations amid “extreme fear” sentiment. The global crypto market cap fell to $2.59 trillion, while analysts flagged the possibility of a short-term relief rally despite deepening bearish expectations.
The Circle Trade
Ark Invest’s ARK Innovation ETF (BATS:ARKK) and ARK Blockchain & Fintech Innovation ETF (BATS:ARKF) acquired 42,878 shares of Circle valued at approximately $2.4 million based on the closing price of $56.16.
Circle, the issuer of USDC (CRYPTO: USDC), saw its stock decline by 4.59% on the same day.
The Coinbase Trade
Ark Invest’s ARKF fund …Full story available on Benzinga.com
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