Cathie Wood’s ARK buys another 220K Circle shares despite sell-off
Summary
ARK Invest added 220,000 more Circle shares across three active ETFs, spending about $13.9 million at Tuesday’s close. That brought ARK’s disclosed July purchases to 725,517 shares, after earlier buys on July 1 and July 9. ARK has kept accumulating Circle despite weakness in the stock, which is down about 22% this year and roughly 76% from its post-IPO peak. Circle now makes up 4.37% of ARKF and 3.35% of ARKK, ranking among each fund’s top holdings. The buying came as some analysts turned more cautious. 10x Research said Circle’s fundamentals have worsened, citing slower USDC activity and fewer active addresses. USDC’s market cap is down about 3% year to date to $73 billion, though it remains higher than a year ago.
