Cathie Wood’s ARK Doubles Down on Circle, Buying 220K Shares Amid Sell-Off
Cathie Wood’s ARK Invest is demonstrating massive conviction in the stablecoin ecosystem by acquiring an additional 220,000 shares of Circle Internet Group. Despite a significant stock decline and market pressure, the firm deployed approximately $13.9 million to expand its position, signaling a strategic move to capitalize on the current price dip.
This aggressive accumulation brings ARK's total holdings of Circle shares to 725,517, reinforcing its long-term bullish stance on the USDC issuer. By doubling down during this sell-off, Wood is positioning ARK to benefit from the continued institutional adoption of Circle's digital payment infrastructure and the broader crypto economy.
Cathie Wood’s ARK Invest is doubling down on its bet on USDC issuer Circle even as the company’s stock remains under pressure. On Tuesday, ARK purchased another 220,000 shares of Circle Internet Group (CRCL) across three of its actively managed exchange-traded funds (ETFs), according to daily trade disclosures.
Based on Circle’s Tuesday closing price of $63.22 on the New York Stock Exchange (NYSE), ARK’s latest purchase was valued at approximately $13.9 million. This move extends a buying spree that began in July, bringing ARK's total stake in Circle to 725,517 shares, highlighting the firm's aggressive strategy amidst market volatility.
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