Cathie Wood’s ARK buys 220,000 Circle shares for $13.9M

ARK Invest purchased 220,000 shares of Circle Internet Group (CRCL) across three actively managed exchange-traded funds on Tuesday, paying the New York Stock Exchange closing price of $63.22 per share for a total of about $13.9 million.

The latest trade brings ARK’s publicly disclosed July acquisitions of Circle shares to 725,517. Earlier reported purchases in the month included 287,609 shares on July 1 and 217,896 shares on July 9.

Holdings data show Circle represented 4.37% of the ARK Fintech Innovation ETF (ARKF), the fund’s seventh-largest holding and valued at about $33 million. In the ARK Innovation ETF (ARKK), Circle accounted for 3.35% of assets and ranked ninth, with a value near $218 million.

Circle’s stock has fallen about 22% year-to-date and is roughly 76% below its post-IPO peak.

In a report published Tuesday, digital asset research firm 10x Research said it no longer considers Circle a buy after the stock dropped below $80. The report cited a deterioration in Circle’s fundamentals and slower activity for the USDC stablecoin, including a decline in active addresses.

USDC’s market capitalization has slipped about 3% year-to-date to roughly $73 billion, while remaining about 17% larger than a year earlier.

ARK’s daily trade disclosures show the firm added to its Circle position multiple times in July. The filings list the transactions, the funds involved and the current fund-weight figures for Circle.