ARK Invest Makes Bold Bet on Circle as Stablecoin Giant Enters Wall Street

Circle’s arrival on the New York Stock Exchange sent shockwaves through the market, and Cathie Wood’s ARK Invest wasted no time jumping in.

ARK snapped up nearly 4.5 million shares—worth over $370 million—across three of its ETFs, signaling strong conviction in the stablecoin issuer’s public debut.

Trading under the ticker CRCL, Circle’s shares opened at $31 but soared to a high of $96 before closing the day up 168%. The IPO—Circle’s third attempt after two prior efforts fell short—was closely watched as a potential benchmark for other crypto-native firms eyeing the public markets.

With USDC’s $60 billion supply, Circle ranks just behind Tether in the stablecoin race. CEO Jeremy Allaire described the public listing as a leap toward modernizing finance through blockchain. The listing comes amid a fragile market climate, where Circle’s success could influence the IPO ambitions of firms like Kraken and Animoca Brands.

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ARK’s move fits a familiar playbook. The investment firm often targets crypto companies at launch, having previously backed Coinbase and eToro during their IPOs. Circle now holds a top 10 position in all three of ARK’s participating funds, though the firm maintains a diversification policy that caps any single asset at 10%.

While buying into Circle, ARK simultaneously trimmed other crypto positions—offloading parts of its Bitcoin ETF (ARKB), as well as shares in Coinbase, Robinhood, and Block. ARKB, despite recent outflows, still holds over $4.7 billion in assets and remains a cornerstone in ARK’s crypto strategy.

This shuffle in holdings reflects ARK’s adaptive approach: reallocating capital toward fresh opportunities while managing exposure in a rapidly evolving digital asset market.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.