Ark Invest doubled down on Circle while trimming its Robinhood holding, according to the firm’s latest daily trading disclosure — a move that highlights Cathie Wood’s continued appetite for crypto-adjacent equities amid recent market turbulence.
What Ark bought and sold
- Circle Internet Financial (Circle): Ark purchased 220,012 shares across ARK Innovation (ARKK), ARK Next Gen Internet (ARKW) and ARK Fintech Innovation (ARKF). Using Tuesday’s close of $63.22, that stake was worth roughly $13.9 million.
- Block Inc.: The firm added 19,029 shares through ARKW and ARKF, about $1.52 million at Tuesday’s $79.99 close.
- Robinhood Markets: Ark trimmed its position by 27,742 shares. With Robinhood at $113.45 on Tuesday, the sale totaled roughly $3.15 million.
Taken together, Ark picked up about $15.4 million of Circle and Block stock and pared back Robinhood by roughly $3.15 million in the same filing.
Why Circle matters now
Circle’s shares were modestly higher on the session (+0.35%) but have plunged roughly 24.2% over the past month after volatility tied to the launch of the Open USD stablecoin project. That weakness has split analyst views: while some remain constructive, Mizuho recently downgraded Circle to Underperform and cut its price target from $85 to $50, warning that competition from Open USD could pressure Circle’s business long term.
This trade fits a pattern
Ark’s latest moves continue a familiar playbook: buying into weakness across crypto-related names. On June 26 the firm bought smaller but similar lots of shares in Circle, Coinbase, Bullish and Robinhood after those stocks fell. Earlier filings also show Ark scooped up about $18.4 million of Coinbase during a drawdown, roughly $4.4 million of Bullish during multi-session weakness, and some $32.5 million of SpaceX after a notable pullback from its post-listing peak.
A note on rebalancing
Ark runs ETFs with portfolio rules that cap any single holding at 10% of fund assets. As prices move, the firm periodically trims or adds positions to keep weightings within target ranges — which helps explain the mix of buys and a sale in the same disclosure.
Bottom line
The filing underscores Ark’s ongoing conviction in crypto-focused fintech and infrastructure companies, buying larger stakes in Circle and Block even as it reduces exposure to Robinhood — a nuanced approach that blends opportunistic accumulation with portfolio rebalancing.
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