BBX News: Yesterday, Ark Invest publicly confirmed through daily transparency disclosure that it purchased over $75 million worth of cryptocurrency related listed company stocks through three ETFs, ARKK, ARKW, and ARKF, totaling approximately $44 million for Coinbase, $25.25 million for Circle, and $8.2 million for Bullish, in June. During the buying period, the stock prices of the three targets fell by approximately 20%, 40%, and 27%, respectively. Cathie Wood's "buy on dips" strategy reached its largest monthly strength this year during the "blood month" of June, in stark contrast to BlackRock IBIT's historical largest monthly outflow of $3.3 billion during the same period.
Core points:
——Ark Invest（NYSE: $ARKK / $ARKW / $ARKF）： 6 Purchased over $75 million worth of cryptocurrency stocks throughout the month, making it the largest single month cryptocurrency allocation of the year; Distribution: COIN about 44 million US dollars, CRCL about 25.25 million US dollars, BLSH about 8.2 million US dollars; During the buying period, the three stocks experienced monthly declines of approximately 20%, 40%, and 27% respectively; ARK Daily Transparency disclosed that on June 17th, they also sold approximately $29 million worth of Robinhood (HOOD) simultaneously; After buying, COIN is ARKK's eighth largest position (about 3.71%), while Robinhood remains the fourth largest position (about 4.87%).
——Coinbase Global (Nasdaq: $COIN): ARK increased its holdings by over 111000 shares in June, totaling approximately $44 million; In June, it fell by about 20% for the whole month; As a co initiator of Open USD (a stablecoin jointly launched by 140 institutions), it forms a competitive relationship with Circle USDC; ARK established a position immediately after its listing in 2021, and increased its holdings in February, March, and June of this year on dips; Benchmark maintains a target price of $270.
——Bullish (NYSE: $BLSH): ARK bought approximately $8.2 million in June; In June, it fell about 27% for the whole month and closed at about $23.43 at the end of the month; Q1 adjusted revenue of approximately 92.8 million US dollars and digital asset trading volume of 51.8 billion US dollars; As the parent company of CoinDesk; ARK opened its first warehouse in May and continued to increase its holdings in June.
Source: bbx.com/
