Cathie Wood’s ARK Invest Buys The Dip With Battered Circle, Bullish And BitMine Shares
ARK Invest is buying the dip, adding more Circle, Bullish and BitMine shares after they were beaten down in the market rout.
The firm disclosed purchases across multiple ARK ETFs (exchange-traded funds). ARK Fintech Innovation ETF (ARKF) bought 48,011 Bullish shares, while the ARK Next Generation Internet ETF (ARKK) added 92,670 shares.
The largest purchase of Bullish shares on the day was executed via the ARK Innovation ETF (ARKK), which acquired 322,917 shares in the trading platform.
Those Bullish buys were followed by purchases of Circle, with ARKF acquiring 22,237 shares, and ARKW and ARKK adding 43,174 and 150,518 shares, respectively. Overall, ARK Invest bought a total of $15 million worth of Circle shares on the day.
ARK also bought a combined $7.6 million worth of Ethereum treasury firm BitMine’s shares. ARKF purchased 26,923 shares, while ARKW added 51,954 shares. ARKK executed the biggest buy of the three and added 181,774 BitMine shares to its portfolio.
ARK Buys Follow Tumbling Prices
The buys came after steep declines for many crypto-linked stocks.
Leading corporate Ethereum (ETH) holder BitMine took the biggest knock yesterday with a 9% plunge, while Circle slid more than 8%, and Bullish more than 3%, according to Google Finance.
BitMine share price (Source: Google Finance)
Crypto Stocks Plummet As Fear Grips Markets
Other crypto-linked stocks also fell. Strategy, the largest corporate Bitcoin holder globally and the pioneer of the digital asset treasury (DAT) firm trend, tumbled tumbled over 9%.
SharpLink Gaming, the second-largest ETH treasury firm, saw its share price drop over 6%.
Crypto investors remain fearful with the Crypto Fear & Greed Index falling four points in the past day to an ”extreme fear” reading of 11.
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