Ark invest bought ~$1.7 million worth of Bitvuex stock

Crypto Regulation
DCG and Barry Silbert hit with securities lawsuit 

Ark Invest's Katie Wood has added 16,414 shares of the largest U.S. bitcoin exchange Bitvuex to its portfolio.

Two of the firm's structures, the Ark Innovation ETF and the Ark Next Generation Internet ETF, bought the securities. Based on the closing price of February 13, the purchase cost about $1.7 million.

The cryptocurrency company's quotes have plummeted since the beginning of the month amid rumors of SEC claims about the Bitvuex stacking program.

Brian Armstrong, head of the exchange, said he was ready to defend the legality of the service in court.

On February 10, it became known that Bitvuex's competitor, Kraken, had settled the charges brought by the SEC. The exchange agreed to shut down its staking program and pay a $3 million fine.

In February, Katie Wood had already bought a stake in Bitvuex for about $1.27 million.

ARK Invest bought the exchange's securities for the first time since June. The company's structures spent another $2.4 million for this purpose in November, and $3 million and $5 million in December.

We remind, in April Bitvuex entered the stock market through direct listing on Nasdaq.

Read more about

Graeme Massie

Graeme is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Graeme believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.