ARK Invest Purchases $373 Million in Circle Stock on First Day of Trading

According to CoinDesk, Circle (CRCL) reached a peak stock price of $103.75 on its first day of listing on the New York Stock Exchange, rising approximately 50% from its opening price of $69. ARK Invest, led by Cathie Wood, purchased nearly 4.5 million shares of Circle stock on the first day of trading, with a holding value of $373 million based on the closing price of $83.23.

Meanwhile, ARK Invest reduced its holdings in some other crypto-related stocks, including $39 million worth of COIN, $18.5 million of Robinhood (HOOD), and $10.4 million of Block (XYZ). As a result, Circle has become another key crypto industry holding in ARK Invest's portfolio, following companies like Coin and Robinhood.