Ark Adds $9.1M in Circle and Bullish as Crypto Stocks Keep Sliding

BLSH +5.78% BTC-USD +1.61% COIN +4.27% CRCL +3.61%

Ark Invest bought about $7.6 million of Circle (CRCL) and $1.5 million of Bullish (BLSH) stock on Nov. 25, extending its crypto-equity buying even as both names traded lower.

Bullish is the parent company of CoinDesk.

The move came while crypto prices were still soft, with bitcoin (BTC) hovering near $87,500. Bullish closed at $40.50, down 2.41%, while Circle fell 3.62% to $70.11.

Ark also purchased 15,197 shares of Coinbase’s (COIN) stock, worth roughly $3.86 million at about $254 per share. COIN is down around 30% on-month, matching the rest of the sector's broad decline.

The Nov. 25 trades follow Ark’s larger Nov. 20 dip buy, when the firm accumulated hundreds of millions of dollars in crypto-related equities across its flagship ETFs as bitcoin crashed.

In total, ARK holds $151.8 million of BLSH shares across its various funds.

Its largest crypto holdings are Coinbase (COIN), which accounts for 4% of its total holdings, or $506.4 million, and Circle, which comes in at 2% of holdings or around $255 million.UPDATE (Nov. 26 10:30 UTC): Added COIN buy.