Ark Invest increased its holdings in crypto-related stocks such as Bitmine, Bullish, and Circle yesterday

According to The Block, despite the current downturn in the cryptocurrency market, Ark Invest increased its holdings in crypto-related stocks such as Bitmine, Bullish, and Circle yesterday.

According to trading disclosure documents, Ark Invest purchased $3.25 million worth of Bitmine stock, a treasury company for Ethereum, through its ETF on Tuesday; it also bought $3.46 million of Bullish stock, a crypto trading platform, and $2.4 million of Circle stock, a stablecoin issuer. Additionally, Ark slightly increased its holdings in Block Inc. and Coinbase, with purchases of $1.77 million and $630,600, respectively.

These actions continue Ark's strategy of increasing its investments in crypto-related stocks on Monday. Currently, amidst the overall downturn in the cryptocurrency market, many crypto-related stocks are trading at significant discounts.