Cathie Wood’s Ark Invest purchased 220,012 Circle shares last week, adding to existing holdings across three ETFs.
Ark Invest, led by Cathie Wood, acquired $14 million worth of Circle Internet Group (CRCL) shares last week, totaling 220,012 shares. The purchases were distributed across three ETFs, with the Ark Innovation ETF receiving the largest allocation of 159,517 shares.
Circle’s stock has underperformed recently due to broader cryptocurrency market weakness, affecting even stablecoins like its USDC. Despite the downturn, Ark Invest’s move signals confidence in the company’s long-term prospects. Prior to this, Ark already held significant Circle positions in its ETFs.
The $13.9 million investment highlights a contrarian bet as cryptocurrency-related stocks face bearish sentiment. No immediate market reaction was specified in the source.