Cathie Wood’s investment firm ARK Invest has resumed buying shares of USDC issuer Circle (CRCL) as the stock continues its steep decline below $90. Over the past two trading days, ARK acquired 542,269 Circle shares, investing approximately $46 million, according to daily trading disclosures.
- Wednesday purchase: $30.4 million
- Thursday purchase: $15.5 million
- Closing prices: $86 (Wednesday), $82.30 (Thursday)
This marks ARK’s first Circle transactions since June, when the firm sold about 1.7 million shares at an average of $200, generating $352 million.
Circle Shares’ Tumultuous Journey
Circle shares debuted on the NYSE on June 5, 2025, opening at $69 and closing at $83.20. The stock surged quickly to an all-time high of $299 by June 23 but faced a sharp sell-off afterward. By July, it fell below $200, and after losing the $100 support level on Nov. 11, Circle shares dipped further, briefly touching $81.40.
With these new purchases, ARK now holds 3.1 million Circle shares, valued at around $256 million at current market prices. The holdings are distributed across ARK’s three main funds:
- ARK Innovation ETF (ARKK) – largest portion: $165.7 million
- ARK Next Generation Internet ETF (ARKW)
- ARK Fintech Innovation ETF (ARKF)
Broader Investment Moves
Alongside Circle, ARK has been actively purchasing shares of Bitmine Immersion Technologies (BMNR), a Bitcoin mining company that has become the largest publicly traded holder of Ether (ETH). On Thursday, ARK bought 242,347 BMNR shares for $8.9 million as the stock dropped below $37.
Analysis
ARK’s renewed purchases reflect confidence in Circle and cryptocurrency-linked equities despite their recent volatility. With CRCL trading far below its June peak, Cathie Wood’s firm appears to be taking advantage of market weakness to build long-term positions.