Circle’s shares made a strong impression on their New York Stock Exchange debut, climbing as high as $103.75—roughly 50% above the initial opening price of $69. The stock closed Thursday at $83.23, well above its $31 IPO price.
ARK Invest, led by Cathie Wood, swiftly acquired nearly 4.5 million Circle (CRCL) shares on day one, representing a $373 million stake at the closing price. This acquisition adds to ARK’s suite of crypto-exposed investments, which already includes Coinbase (COIN), Robinhood (HOOD), and Block (XYZ).
Simultaneously, ARK trimmed its holdings in other crypto-related stocks, selling $39 million in Coinbase shares, $18.5 million in Robinhood, and $10.4 million in Block.
Based in St. Petersburg, California, ARK continues to strategically balance its crypto portfolio amid evolving market conditions.
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