ARK Invest buys US$13.9M in Circle
Share
- ARK Invest bought about US$13.9 million of Circle shares.
- The investment was partly funded by reducing its Robinhood holding.
- The move reflects ARK Invest's continued focus on digital asset businesses.
ARK Invest increased its investment in Circle by buying about US$13.9 million in shares while reducing its position in Robinhood.
The purchase came as Circle's shares continued attracting investor attention following the company's recent public listing.
ARK Invest sold part of its Robinhood holding to help fund the Circle purchase while also making smaller portfolio adjustments in other technology stocks.
Following the announcement, Circle shares remained actively traded, while Robinhood also continued trading on the Nasdaq.
Circle is the issuer of the USDC stablecoin, one of the world's largest U.S. dollar-backed digital assets, while Robinhood offers cryptocurrency trading alongside its stock brokerage business.
ARK Invest regularly adjusts its exchange-traded fund portfolios based on its investment strategy and market opportunities across technology and digital asset companies.