Circle’s shares soared on their debut at the New York Stock Exchange, reaching an intraday high of $103.75—about 50% above the $69 opening price. The stock closed Thursday at $83.23, significantly up from its IPO price of $31.
Cathie Wood’s ARK Invest made a big move on Circle’s first trading day, purchasing nearly 4.5 million shares valued at approximately $373 million based on the closing price. This acquisition adds Circle (CRCL) to ARK’s portfolio of crypto-focused companies, which already includes Coinbase (COIN), Robinhood (HOOD), and Block (XYZ).
While increasing its stake in Circle, ARK also reduced holdings in other crypto stocks, selling $39 million worth of Coinbase shares, $18.5 million in Robinhood, and $10.4 million of Block.
Based in St. Petersburg, California, ARK Invest continues to position itself prominently within the digital asset space by selectively balancing its portfolio exposure to key industry players.
