ARK Invest Boosts Stakes in Circle Internet Group Amid Stock Dip

ARK Invest, led by Cathie Wood, increased its holdings in Circle Internet Group (CRCL) by buying a total of 287,609 shares across its Innovation, Fintech Innovation, and Next Generation Internet ETFs. The purchases, worth roughly $17.8 million at a closing price of $61.95, came after Circle’s shares fell more than 38% over the past month and slipped 1.09% on the day of the buying. The stock had been pressured by its removal from several Russell growth indexes during the June 26 reconstitution and heightened competition from new stablecoins such as Open USD.

Despite the sell‑off, Circle announced a partnership with Standard Chartered to let institutional clients mint and redeem USDC, and its shares rose 4.25% in pre‑market trading the following morning. The ARK portfolio adjustments also included increased positions in other disruptive‑technology companies while trimming some unrelated holdings.