According to the firm’s latest daily trading disclosure, Ark scooped up 220,012 shares of Circle across its ARKK, ARKW, and ARKF funds. The purchase follows a turbulent month for Circle, which remains down over 24% following the launch of the Open USD stablecoin project. The aggressive acquisition comes despite a recent downgrade from Mizuho, which slashed its price target for the company to $50, citing mounting competitive pressure.
In section Cryptocurrency
Ark Invest Rebalances Portfolio With $13.9 Million Circle Buy
Cathie Wood’s Ark Invest has signaled a pivot in its fintech holdings, funneling $13.9 million into Circle Internet Group while simultaneously offloading $3.15 million in Robinhood shares. The move reflects a broader rebalancing strategy, favoring assets recently battered by market volatility over those riding recent price surges.
Simultaneously, the firm expanded its stake in Block Inc. by adding 19,029 shares, valued at approximately $1.52 million. Conversely, Ark trimmed its position in Robinhood by 27,742 shares. The sell-off coincides with a 3.27% climb in Robinhood’s stock price, aligning with the firm’s established practice of rebalancing to ensure no single holding exceeds 10% of an ETF’s total assets. This tactical shift underscores a consistent pattern: buying into weakness—as seen previously with Coinbase and SpaceX—while trimming exposure when market gains push individual stocks beyond internal weight targets.
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