ArcInvest Buys $43.5 Million Worth of Crypto-Related Stocks Amid Market Decline

Led by Cash Wood, ArcInvest recently purchased $43.5 million worth of crypto-related stocks, including Coinbase and Circle, over three trading days. The buys came amid cryptocurrency market weakness, with ArcInvest adding 122,544 shares of Coinbase at $18.6 million and 169,777 shares of Circle at $12.9 million. Additional purchases included $5.2 million in Bullish shares, $5.12 million in Robinhood shares, and $1.69 million in SoFi Technologies shares. The investment occurred as crypto-related stocks fell sharply, with Circle down 27.6%, Coinbase down 16.9%, and Bullish down 26.3% over the past month. Bitcoin also approached its two-year low, and hopes for U.S. clarity legislation before the November midterm elections waned.