TechFlow news, July 16, according to Cointelegraph, ARK Invest under Cathie Wood increased its holdings by 220,000 shares of Circle stock on Tuesday at approximately $63.22 per share, with a transaction value of about $13.9 million. Thus, ARK has cumulatively purchased 725,517 shares of Circle stock in July, despite the stock falling about 22% year-to-date and declining about 76% from its IPO peak.
Holdings data shows that Circle currently accounts for 4.37% of the ARK Fintech Innovation ETF, making it the seventh largest holding with a value of about $33 million; it accounts for 3.35% in the flagship fund ARKK, with a value of about $218 million. Meanwhile, institutions such as 10x Research pointed out declining USDC activity, believing Circle's fundamentals have "significantly deteriorated," and hold a cautious stance on its investment prospects.
