ARK Invest buys 540,000 Circle shares at low prices… invested 46.2 million dollars over two days

ARK Invest, led by Cathie Wood (Cathie Wood), has reportedly made large-scale purchases of recently fallen Circle stock. This is the first net purchase since June of this year.

On the 14th (local time), crypto-focused media Cointelegraph reported that ARK invested about 46.2 million dollars over the recent two days to buy a total of 542,269 shares. ARK made purchases of 30.4 million dollars on the 13th and 15.5 million dollars on the day, with Circle's closing prices at the time being 86 dollars and 82.3 dollars, respectively.

This purchase is the first since ARK sold about 1.7 million shares at an average price of around 200 dollars in June. At that time, ARK recovered a total of 352 million dollars through four sell transactions.

Circle's share price fell below 200 dollars in July and on the 11th gave up the 100 dollar support level. Recently it has continued its decline, falling as low as 81.4 dollars.

With this purchase ARK now holds about 3.1 million shares of Circle stock, valued at about 256 million dollars at current values. The holdings are distributed among three ARK funds — ARKK, ARKW, and ARKF — with ARKK, which has assets of 8.4 billion dollars, holding 165.7 million dollars, the largest portion.

Meanwhile, ARK has also been increasing purchases of shares of Bitmain Emerging Technologies, the world's largest holder of Ethereum and a Bitcoin miner. On the 14th, when the stock fell below 37 dollars, ARK additionally bought 242,347 Bitmain shares (about 8.9 million dollars).