Why Cathie Wood Just Dropped $17M on Circle (CRCL) Stock After Earnings
TLDR
- Ark Invest bought 273,343 Circle shares across three funds on Aug. 5, worth approximately $17.3 million
- Circle reported Q2 revenue of $701 million, up 7% year-over-year
- USDC circulation hit $73.3 billion at quarter-end, a 19% annual increase
- On-chain transaction volume surged 151% to $14.8 trillion year-over-year
- Circle stock closed nearly flat at $63.28, up just 0.05% on the day
Ark Invest bought into Circle Internet Group on Aug. 5, the same day the company dropped its second-quarter results. Circle stock closed at $63.28, up just 0.05% on the day, putting the value of Arkโs purchase at roughly $17.3 million.
The firm picked up 273,343 Circle shares spread across three funds: the Ark Innovation ETF (ARKK), the Ark Next Generation Internet ETF (ARKW), and the Ark Blockchain and Fintech Innovation ETF (ARKF).
Circle was already sitting as the ninth-largest holding in ARKK, with a 3.68% weighting and a total value of $223.4 million in that fund alone.
Arkโs internal rules cap any single holding at 10% of a fundโs portfolio, so there was still room to add without hitting the ceiling.
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