ARK Invest Pivots to USDC Issuer Circle and Bitcoin Infrastructure in $26M Crypto Bet
Cathie Wood's ARK Invest executed major portfolio reallocations on November 13, rotating out of traditional tech stocks toward cryptocurrency opportunities. The firm liquidated $22.5 million in AMD shares post-Analyst Day, along with positions in Pinterest, Regeneron, and Salesforce.
ARK deployed $26 million into crypto-native plays: $20 million into Circle Internet Financial (issuer of USDC stablecoin) and $6 million into Bitmine Immersion Technologies. This strategic shift highlights institutional conviction in stablecoin utility and Bitcoin mining infrastructure despite macro uncertainty.
The moves coincide with bitcoin breaking key resistance levels and altcoins outperforming. Crypto equities like COIN and MSTR are increasingly serving as proxies for institutional digital asset exposure, with ARK's flows signaling growing mainstream acceptance.