ARK Invest Purchases $373 Million in Circle Shares on Trading Debut
Cathie Wood's ARK Invest purchased nearly 4.5 million shares of Circle (CRCL) on its first trading day, valued at $373 million based on the closing price.
- Circle is the issuer of the USDC stablecoin.
- ARK's portfolio includes companies like Coinbase, Robinhood, and Block.
- Circle shares peaked at $103.75, a 50% increase from the opening price of $69.
- CRCL closed at $83.23 after an IPO price of $31.
- ARK sold shares in other crypto firms, totaling $39 million in Coinbase, $18.5 million in Robinhood, and $10.4 million in Block.