ARK Invest buys $6.8M in Circle shares after NY win

Cathie Wood’s ARK Invest bought 109,129 Circle shares after the stablecoin issuer secured a limited-purpose trust charter in New York. Summary ARK acquired about $6.83 million in Circle shares across three exchange-traded funds. Circle received a limited-purpose trust charter from the New York Department of Financial Services. CRCL closed 2.54% lower at $62.61 on July 31 despite the regulatory approval. Circle plans to gradually transfer USDC issuance to its New York trust entity. ARK Invest adds 109,129 Circle shares ARK purchased 77,103 Circle shares through its flagship ARK Innovation ETF, according to the firm’s daily trade disclosures. The ARK Next Generation Internet ETF added 22,238 shares, while the ARK Fintech Innovation ETF acquired another 9,788. Together, the purchases totaled 109,129 shares. They were worth approximately $6.83 million based on Circle’s July 31 closing price of $62.61. The investment extended ARK’s exposure to Circle as the company expands its regulated stablecoin infrastructure in the United States. It also followed ARK’s roughly $40.2 million purchase of Tesla, SpaceX and Nvidia shares on July 28 during a broader technology-sector sell-off. ARK made s...