TechFlow News, February 4: According to The Block, amid a continued downturn in the cryptocurrency market, Ark Invest—led by Cathie Wood—increased its holdings in crypto-related stocks on Tuesday, including Bitmine, Circle, Bullish, Block Inc., and Coinbase.
Per regulatory filings, Ark Invest purchased $3.25 million worth of shares in Bitmine—a company managing Ethereum’s treasury—through its exchange-traded funds (ETFs). It also acquired $3.46 million worth of shares in the cryptocurrency exchange Bullish and $2.4 million worth of shares in stablecoin issuer Circle. Additionally, the asset management firm modestly increased its positions in Block Inc. and Coinbase by $1.77 million and $630,600, respectively.
These transactions continue Ark’s strategy from Monday of expanding its exposure to crypto-related equities.
