Cathie Wood's Ark Invest Buys $30 Million in Circle Shares Ahead of Potential Arc Token

Ark Invest, led by Cathie Wood, purchased approximately $30 million worth of shares in Circle, the issuer of the USDC stablecoin. This acquisition added 353,328 shares of Circle (CRCL) across three actively managed ETFs, bringing Ark's total holdings to nearly 3 million shares valued at around $255 million. The timing of the purchase aligns with a recent dip in Circle's share price, which has dropped over 37% in the past month, indicating a low point for the stock since its IPO. Despite this volatility, Circle reported strong Q3 results with $740 million in revenue, a substantial 66% increase year-over-year. Wood's investment mirrors recent strategic buys, as the firm also increased its stake in other crypto-related equities amidst market downturns, including BitMine Immersion Technologies. The ongoing fluctuations in Bitcoin and broader crypto markets remain significant factors in investment decisions. Overall, Ark Invest continues to bolster its position in the rapidly evolving landscape of digital currencies and related technologies.

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