Cathie Wood’s Ark Invest doubles down on Circle, adds stakes in BitMine, Bullish

Cathie Wood’s investment firm Ark Invest has doubled down on Circle with major consecutive Circle share purchases this week. The company purchased $30 million worth of Circle shares on Wednesday, followed by an additional $15 million in Circle shares on Thursday.

American investment firm Ark Invest purchased $15.56 million worth of stablecoin issuer Circle Internet Group yesterday. The company also bought BitMine and Bullish shares worth $8.86 million and $7.28 million, respectively. The firm’s trade filings show that Ark Invest executed the purchases across three of its exchange-traded funds. 

Ark Invest buys more Circle shares despite the stock’s recent dip

The trade filing shows that the ARK Innovation ETF (ARKK) purchased 130,595 shares of Circle, while the ARK Next Generation Internet ETF (ARKW) added another 38,313 Circle shares to its portfolio. The ARK Fintech Innovation ETF (ARKF) also purchased an additional 20,033 Circle shares. 

Ark also doubled down on the crypto mining infrastructure and trading infrastructure. The company’s three ETFs also added 242,347 BitMine Immersion Technologies Inc. shares and an additional 177,480 shares on the Peter Thiel-backed crypto exchange Bullish.

Ark Invest’s purchases came as all three company stocks declined sharply. Circle’s share price dropped by 4.59% closing at $82.34, while BitMine dropped sharply by 9.86% closing at $36.57. Bullish also fell significantly, closing at $41.02, representing a 9.85% decrease from its previous close.

The purchase follows another major investment from Cathie Wood’s firm on Wednesday. The asset management firm purchased 353,328 shares worth $30 million despite the stablecoin issuer’s shares plummeting by double digits. The decline saw Circle’s share price drop by 12%, marking the second-largest single-day drop after a 16% fall recorded on June 27. The purchase was executed through the company’s three ETFs, following a similar pattern to yesterday’s purchase.

Amid the purchases, daily fund disclosures reveal that Ark’s ETFs offloaded a significant portion of their AMD holdings. ARK Innovation ETF sold 87,051 AMD shares for $22 million before adding its exposure to the three crypto companies. The liquidation occurred just two days after the chip maker announced its AI and data center plans during its 2025 Analyst Day on November 11, resulting in a 10% surge in its stock price.

ARK also sold 572,735 shares of Pinterest for about $15.6 million and 12,083 shares of Regeneron for roughly $8.2 million. The series of transactions reveals the company’s slight shift from tech companies to more exposure in crypto investments.

Ark Invest buys more Bullish shares

Cryptopolitan reported on November 4 that Ark Invest bought another batch of Bullish shares worth $12 million. The purchase involved the addition of 238,3346 shares to its stockpile, which also took place through the investment firm’s three ETFs. At the time of purchase, the crypto exchange share price had dropped by more than 47% YTD.

The significant investments from the American company come after the stablecoin issuer released its third-quarter earnings report, revealing the company’s strong profitability. The Q3 earnings report shows that the crypto company experienced a 66% surge in total revenue and reserve income compared to the same period last year, which totaled $740 million. 

The company’s net income also rose by 202% to $214 million. USDC in circulation is up 108% year-over-year, ending the quarter at $73.7 billion. Circle’s earnings per share settled at 64 cents, beating anticipations and projections from analysts.

Circle’s CEO, Jeremy Allaire, commented on the company’s Q3 performance, stating that the firm made tremendous progress in making platforms accessible to startups and financial firms. Despite a strong performance, the stock’s third-quarter income raised concerns among investors over revenue from interest-bearing holdings, as analysts anticipate the Fed will cut interest rates next month.

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