ARK Invest adds to Circle and Bullish holdings…worth $16 million

JOON HYOUNG LEE

Summary

ARK Invest reportedly bought additional Bullish shares worth $11.6 million via exchange-traded funds (ETFs).
ARK Invest also added Circle shares worth $4.4 million the same day, buying crypto-related stocks worth $16 million in total in one day.
The Block reported that despite the recent sharp drop in Bitcoin (BTC) and a 30% fall in Circle’s stock, the purchase underscores ARK Invest’s long-term conviction in cryptocurrencies.

Forecast Trend Report by Period

ARK Invest, led by Cathie Wood—often dubbed the “Money Tree Sister”—bought more shares of crypto-related stocks Circle (USDC) and Bullish.

According to The Block on the 12th (local time), ARK Invest on the previous day (11th) added $11.6 million worth of Bullish shares via its exchange-traded funds (ETFs). ARK Invest is said to have purchased Bullish shares for 10 consecutive trading sessions.

On the same day, ARK Invest also added $4.4 million worth of shares in Circle, the issuer of the dollar stablecoin. In total, it bought $16 million worth of crypto-related stocks in a single day.

Shares of crypto-related stocks such as Circle have been struggling recently in the wake of Bitcoin’s (BTC) sharp drop. In Circle’s case, the stock has fallen by nearly 30% over the past month. The Block said, “This purchase demonstrates ARK Invest’s long-term conviction in cryptocurrencies.”

USDC