Cathie Wood's ARK buys 220K Circle shares amid sell-off
Cathie Wood's ARK buys of Circle stock continued on Tuesday as the firm added roughly 220,000 shares worth about $13.9 million, extending disclosed July purchases to 725,517 shares. The move came as CRCL closed at $63.22 on the NYSE amid a steep sell-off, underscoring ARK Invest's continued conviction in the USDC issuer despite a prolonged decline.
The trade was disclosed in ARK's daily filing and spread across three of its actively managed exchange-traded funds. Circle shares were down about 22% year-to-date and roughly 76% below their post-initial public offering peak when ARK added again.
Key Takeaways
- ARK Invest purchased about 220,000 Circle (CRCL) shares worth $13.9 million on Tuesday.
- July disclosed acquisitions now total 725,517 shares after earlier buys on July 1 and July 9.
- Circle closed at $63.22 on the NYSE, well below its post-IPO peak.
- ARK has kept adding despite a prolonged decline, signaling conviction in the USDC issuer.
- Analysts at 10x Research no longer rate Circle a buy after CRCL fell back below $80.
Why Did Cathie Wood's ARK Buy More Circle Shares?
ARK's latest purchase fits a pattern of buying into weakness. Trade disclosures reviewed by Cointelegraph show the firm has consistently added to its Circle position across its flagship funds even as the stock slid.
That steady accumulation suggests ARK sees long-term value in Circle Internet Group, the company behind the USDC stablecoin. For ETF holders, the Tuesday trade is another data point in a July buying spree that has not paused despite the sell-off.
How Much Circle Stock Has ARK Bought in July?
ARK's Tuesday buy brought disclosed July acquisitions to 725,517 Circle shares. The firm previously purchased 287,609 shares on July 1 and 217,896 shares on July 9, according to the disclosures.
Based on Circle's Tuesday closing price of $63.22, the latest tranche alone was worth about $13.9 million. Combined with earlier July entries, ARK has deployed a significant sum into one of the most closely watched crypto-adjacent listings on public markets.
What Does the Circle Sell-Off Mean for Investors?
Circle's steep decline has divided market watchers. Digital asset research platform 10x Research said it no longer considers Circle a buy after the stock fell back below $80. In a report published Tuesday, the firm said it previously viewed CRCL as attractive below that level but now believes Circle's fundamentals have "meaningfully deteriorated."
Still, 10x Research noted a bullish case remains. It said the recent decline could either present a long-term buying opportunity or mark the start of a more prolonged downturn. ARK's repeated purchases sit squarely in that debate.
For broader fintech and crypto market context, see our Fintech & Crypto Alerts coverage.
What's Next for ARK and Circle?
Investors will watch whether ARK keeps building its Circle stake or pauses if the stock stabilizes. Each daily trade disclosure offers a real-time read on Cathie Wood's conviction in crypto infrastructure names.
Circle's next moves on USDC adoption, competition, and profitability will likely determine whether ARK's July accumulation looks prescient or premature. Until then, the 725,517 shares bought this month define the story.