Ark Invest bought about US$77.5 million in Coinbase, Circle Internet Group, and Bullish shares in June, according to emailed disclosures.

The purchases came after crypto stocks declined during bitcoin’s worst month in four years.

The St. Petersburg, Florida-based investment manager bought about US$44 million of Coinbase, US$25.25 million of Circle Internet Group, the issuer of USDC, and US$8.2 million of Bullish, the parent company of CoinDesk.

Circle shares fell 40% in June to US$62.63, including an 18% drop on June 30 after rival stablecoin Open USD debuted.

Coinbase ended the month down nearly 20% at US$146.19, while Bullish fell 27% to US$23.43.

Stablecoin competition matters to Coinbase and Circle because Coinbase has a revenue-sharing agreement tied to USDC and receives 100% of interest income on USDC held on its platform.

Revenue from USDC held off Coinbase is split 50:50 with Circle.

The US stablecoin market is also heading toward tighter oversight after the GENIUS Act passed Congress on July 17, 2025, and was sent to President Donald Trump.

Rules are expected to take effect as early as November 2026, a framework that may favor well-capitalized issuers and raise the bar for new consortia.

🔗 Source: CoinDesk

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