Ark Invest Snaps Up $17M in Circle, $20M in SpaceX After Q2 Results
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Cathie Wood's Ark Invest moved into both Circle Internet Group and SpaceX on Aug. 5, picking up tens of millions of dollars in shares from each company on a day when their stocks told very different stories. Ark bought 273,343 shares of Circle across three of its funds: the Ark Innovation ETF (ARKK), the Ark Next Generation Internet ETF (ARKW), and the Ark Blockchain and Fintech Innovation ETF (ARKF). Circle's stock closed up 0.05% at $63.28, putting the value of Ark's purchase at approximately $17.3 million. Circle released its second-quarter results on the same day, reporting total revenue and reserve income of $701 million, a 7% increase year-over-year. Adjusted EBITDA climbed 8% to $143 million. USD Coin (USDC) in circulation closed the quarter at $73.3 billion, up 19% from a year earlier, while on-chain transaction volume reached $14.8 trillion, a 151% jump year-over-year. Ark's rules cap any single holding at 10% of a fund's portfolio to maintain diversification. Circle currently ranks as the ninth-largest position within ARKK, with a 3.68% weighting and a total value of $223.4 million in that fund alone. Related Article: Ark Invest Buys Coinbase, Circle Shares as Stocks Rise Ark also acquired 181,830 SpaceX shares on Aug. 5, spread across ARKK, the ARK Autonomous Technology and Robotics ETF (ARKQ), ARKW, and the ARK Space and Defense Innovation ETF (ARKX). At a...
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