Cryptocurrency Bill Vote Imminent...Ark Invest Buys Coinbase and Circle Again

▲ Cathie Wood, Ark Invest, Circle (CRCL)/AI-generated image

Ark Invest, led by Cathie Wood, invested an additional $9.42 million in shares of Coinbase Global (COIN) and Circle Internet Group (CRCL).

According to cryptocurrency media outlet Coingape on August 4 (local time), Ark Invest purchased Coinbase and Circle shares through various ETFs on August 3. This increase in cryptocurrency-related stock holdings comes at a time when the possibility of a vote on the US crypto market structure bill is being discussed in the US Senate.

ARKK bought 38,761 shares of Coinbase stock for approximately $5.68 million. ARKW purchased 11,133 shares for approximately $1.63 million. ARKF also added 4,882 shares for approximately $715,213. Ark Invest acquired a total of 54,776 shares of Coinbase stock, with the purchase amount being approximately $8.02 million. Coinbase's closing price was $146.5, up 0.16%.

Ark Invest also purchased a total of 23,070 shares of Circle stock. ARKK bought 17,910 shares for approximately $1.08 million, and ARKW added 5,160 shares for approximately $311,406. The total purchase amount was approximately $1.39 million. Circle's closing price was $60.35, down 3.61%.

US Senate Majority Whip John Thune presented the US crypto market structure bill as a key agenda item to be processed before the August recess. Thune said, "I believe the market structure bill can be brought to a vote," adding, "We will have to see if it can be brought to the floor." However, the bill has not yet been included in the official schedule of the Senate floor.

Cryptocurrency analyst Ted Pillows pointed out that time is running short to process the bill before the month-long recess. Pillows stated, "If Senate leadership files a motion to invoke cloture on Wednesday, the earliest possible vote would likely be Friday." The voting schedule for the US crypto market structure bill has not been officially confirmed.

[Article Key Summary]

-Ark Invest additionally invested a total of $9.42 million in Coinbase and Circle shares.

-A total of 54,776 shares of Coinbase and 23,070 shares of Circle were purchased through various ETFs.

-The US crypto market structure bill has been discussed as a key agenda item for the Senate, but an official voting schedule has not been confirmed.

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