ARK Invest adds crypto stocks during selloff, including major Circle purchases
Cathie Wood’s firm bought $3.3 million of Circle shares on Tuesday and nearly $18 million more on Wednesday, while also adding Coinbase, Bullish and Robinhood during a broader crypto-equity pullback.
USDC
Summary
ARK Invest bought crypto-related stocks during a market selloff, including two reported purchases of Circle shares totaling about $21.3 million across Tuesday and Wednesday. The firm bought $3.3 million of Circle on Tuesday as the stock fell 17.6%, then nearly $18 million more on Wednesday as CRCL dropped to $61.95 and extended its one-month decline to 41%. ARK also added to positions in Coinbase, Bullish and Robinhood, underscoring its willingness to increase exposure to volatile crypto-linked equities during market weakness.
Terms & Concepts
- Circle: Issuer of the USDC stablecoin
- crypto-linked equities: Shares of companies tied to digital-asset markets, trading, or infrastructure
- USDC: Dollar-pegged stablecoin issued by Circle