Cathie Wood adds to Circle and SpaceX positions as SpaceX shares tumble 13.6%

On Wednesday, Cathie Wood’s Ark Invest bought about $17.3 million of Circle stock and ~$20 million of SpaceX stock.

Both buys landed on the same day SpaceX plunged 13.6% on a jump in AI spending.

Circle beats on profit but misses on revenue

Ark bought 273,343 Circle shares split among the Ark Innovation ETF (ARKK), the Ark Next Generation Internet ETF (ARKW), and the Ark Blockchain & Fintech Innovation ETF (ARKF).

Circle closed nearly flat that day, up 0.05% to $63.28, meaning the stake was worth around $17.3 million.

According to Ark’s disclosures, the USDC issuer sits ninth in ARKK’s holdings with a 3.68% weight worth $223.4 million. Ark limits any one position to 10% of a fund, so it’s diversified across its ETFs, and there’s still room to add.

In the second quarter, total revenue and reserve income for Circle reached $701 million, a 7% increase year-over-year. The figure was less than the $712 million to $718 million analysts had modeled. CRCL dropped about 3% in premarket trading before bouncing back.

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