Ark Invest buys $15.6 million in Circle shares, adds BitMine and Bullish positions
Ark Invest purchased $15.56 million in Circle shares, along with significant stakes in BitMine and Bullish, across three ETFs.Summary
Cathie Wood's Ark Invest acquired $15.56 million worth of Circle Internet Group shares on Thursday through its ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). The firm also added positions in BitMine Immersion Technologies Inc., valued at about $8.86 million, and Bullish, valued at $7.28 million, across the same three ETFs. These purchases occurred as the stock prices for Circle, BitMine, and Bullish all experienced sharp declines on Thursday. This activity follows Circle's strong third-quarter results, which showed a 66% year-on-year revenue increase to $740 million and a 202% surge in net income to $214 million, alongside a USDC circulation growth of 108% to $73.7 billion. Furthermore, analysts at William Blair gave Circle an "outperform" rating, and the company is exploring a native token for its Arc blockchain.
(Source：The Block)