Ark Invest bought the dip in the stock of stablecoin issuer Circle Internet Group (NYSE: $CRCL).
Asset manager Ark Invest, which is led by investor Cathie Wood, purchased $16 million U.S. worth of Circle stock as the price plunged 20% on March 24.
Ark Invest aggressively added CRCL stock across its exchange-traded funds (ETFs) as the issuer of the USDC stablecoin saw its share price whacked by negative sentiment.
Regulatory filings show that Ark bought 161,513 shares of Circle stock via its ARKK, ARKW, and ARKF ETFs. In all, Ark Invest spent $16.34 million U.S. buying additional shares of CRCL.
Circle’s stock plunged 20% on reports that the latest draft of the U.S. Clarity Act restricts yield payments on stablecoins such as Circle’s USDC.
At the same time, Circle’s main rival Tether announced that it is moving forward with its first financial audit after hiring a Big Four accounting firm.
That move could harm Circle’s position as the transparent and compliant alternative to Tether’s USDT stablecoin, further hurting CRCL stock.
The decline doesn’t appear to have dissuaded Ark Invest, which has been rebalancing its exposure to Circle and other crypto-related stocks in recent months.
Circle is now the third-largest holding in Ark Invest’s flagship ARKK ETF, with a 5.48% weighting valued at $334.5 million U.S.
CRCL stock has risen 21% so far in 2026 to trade at $101.17 U.S. per share.
COMTEX_475940302/2797/2026-03-25T13:20:36