Cathie Wood’s ARK Invest has resumed buying shares of USDC issuer Circle as the stock slips below $90.
According to daily trading disclosures reviewed by Cointelegraph, ARK purchased 542,269 Circle (CRCL) shares over the past two trading sessions, totaling roughly $46 million.
The buys — $30.4 million on Wednesday and another $15.5 million on Thursday — came as CRCL continued to fall, closing at $86 and $82.30 on those respective days.
These new acquisitions are ARK’s first since June, when the firm sold about 1.7 million Circle shares across four separate transactions at an average closing price of $200, bringing in $352 million.
Circle’s share price: From nearly $300 to the low $80s
Circle made its New York Stock Exchange debut on June 5, opening at $69 and ending its first session at $83.20, per NYSE data.
The stock quickly shot up to an all-time high of nearly $299 on June 23 before a sharp correction sent it below $200 in July. After losing the $100 level on Nov. 11, Circle shares continued to slide, briefly touching $81.40.
After its latest round of buying, ARK now holds 3.1 million Circle (CRCL) shares as of Friday morning — a position valued at roughly $256 million at current prices.
The shares are spread across three of ARK’s funds: the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF).
ARKK, the firm’s largest fund with $8.4 billion in net assets, holds the biggest share of the CRCL allocation at about $165.7 million.
Alongside the renewed Circle purchases, ARK has also been actively accumulating shares of Bitmine Immersion Technologies (BMNR), a Bitcoin mining firm that has become the largest publicly traded holder of Ether. On Thursday, ARK added another 242,347 BMNR shares for approximately $8.9 million as the stock slipped below $37.
