Ark Invest Bolsters Stake in Circle Despite Stock Dip, Expands Crypto Portfolio
Ark Invest deployed $15.56 million into Circle Internet Financial shares across three ETFs on Thursday, signaling conviction amid a 4.59% price drop. The ARK Innovation ETF absorbed the lion's share with a $10.75 million purchase, followed by ARK Next Generation Internet and ARK Fintech Innovation ETFs adding $3.16 million and $1.65 million respectively.
Concurrently, Ark allocated $16.14 million to crypto-adjacent equities, snapping up positions in BitMine and Bullish. The moves coincide with Circle's Q3 earnings report showing 66% revenue growth and 202% net income surge—a stark contrast to broader market headwinds.