ARK Invest has actively increased its investment in cryptocurrency-linked enterprises, spending over $39 million purchasing shares in Bullish, Circle, and BitMine as the crypto market faces declines.

Overview of Purchases

On Wednesday, ARK Invest’s Fintech Innovation ETF acquired 48,011 shares of Bullish, with further acquisitions in the ARKW and ARKK ETFs bringing the total investment in Bullish to approximately $16.8 million.

Circle, known for its USDC stablecoin, received attention as well, with ARK funds accumulating around $15 million in shares. BitMine also saw significant buys totaling $7.6 million.

BitMine share end the day down by 9.5%. Source: Google Finance

Market Reaction

Prices of these crypto stocks have recently dropped, with Bullish declining 3.63%, Circle near 9%, and BitMine dropping 9.5%. In contrast, Nvidia’s latest earnings report, which significantly outperformed market expectations, has positively impacted the tech sector, buoying associated crypto stocks.

For further details, see related articles from Cointelegraph on ARK’s crypto strategy and the implications of Nvidia’s earnings on market sentiment.