Key Takeaways
- Ark Invest invested $31.7M in Circle, BitMine, and Bullish despite market dips.
- Circle’s Q3 revenue and net income surged, reinforcing institutional confidence.
- Ark’s purchases highlight a long-term bet on crypto and blockchain growth.
- Circle explores a native token for Arc blockchain, signaling expansion in programmable finance.
Ark Invest Makes Bold Move in Crypto and Blockchain Stocks
Cathie Wood’s Ark Invest made a notable market move Thursday, purchasing $15.56 million in Circle Internet Group shares, alongside significant stakes in BitMine and Bullish, despite a broad market pullback. These trades span three of Ark’s leading ETFs, highlighting the firm’s ongoing commitment to blockchain and crypto-related investments.
According to Ark’s filing, the ARK Innovation ETF (ARKK) acquired 130,595 Circle shares, while the ARK Next Generation Internet ETF (ARKW) added 38,313 shares. The ARK Fintech Innovation ETF (ARKF) purchased 20,033 Circle shares. Combined, these positions signal a strong institutional vote of confidence as Circle continues its expansion in stablecoin infrastructure and programmable finance.
Strategic Buys Amid Market Declines
The purchases coincided with sharp drops in all three stocks: Circle closed down 4.59% at $82.34, BitMine fell 9.86% to $36.57, and Bullish slid 9.85% to $41.02. Ark Invest also bought 242,347 shares of BitMine for roughly $8.86 million and 177,480 shares of Bullish worth $7.28 million, demonstrating a classic long-term contrarian strategy by buying during market dips.
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This approach underscores Cathie Wood’s confidence in the transformative potential of blockchain technology, even as short-term market volatility impacts share prices.
Circle’s Growth Fuels Investor Confidence
Circle’s strong Q3 performance likely contributed to Ark’s purchases. The company reported $740 million in total revenue, up 66% year-on-year, and net income surged 202% to $214 million. Its stablecoin, USDC, ended the quarter at $73.7 billion in circulation, a 108% increase from last year.
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Analysts at William Blair recently rated Circle as “outperform,” citing its leadership position in a winner-take-most market and its ongoing development of key infrastructure, including the Circle Payments Network and Arc blockchain. The company is also exploring a native token for Arc, aligning with its broader push into on-chain programmable finance.
Conclusion
Ark Invest’s recent trades demonstrate that market dips can create opportunities for strategic, long-term investments in crypto and blockchain innovators. By acquiring millions in Circle, BitMine, and Bullish, Cathie Wood signals confidence in companies shaping the next generation of digital finance infrastructure.
