Cathie Wood’s Ark Invest executed a series of notable trades on Tuesday, loading up on shares of Circle Internet Group and Block Inc. while trimming its position in Robinhood Markets. The firm’s daily trading disclosure revealed that across three ETFs—ARKK, ARKW, and ARKF—Ark purchased a total of 220,012 shares of Circle, worth approximately $13.9 million based on a closing price of $63.22. The stock rose 0.35% on the day but remains down 24.17% over the past month, pressured by the launch of the rival stablecoin project Open USD.
Ark also added 19,029 shares of fintech company Block Inc. through ARKW and ARKF, amounting to roughly $1.52 million. Block closed 1.61% higher at $79.99. On the sell side, the firm offloaded 27,742 Robinhood shares valued at about $3.15 million, even as Robinhood’s stock climbed 3.27% to $113.45. The moves are consistent with Ark’s internal rule that no single stock may exceed 10% of an ETF’s portfolio, forcing periodic rebalancing when values shift significantly.
The Circle purchase extends a pattern of accumulation: Ark has deployed roughly $53.5 million into the stock over the past two months. Recent weakness in Circle’s shares has been linked to the emergence of Open USD, a new stablecoin backed by over 140 companies including Visa, Stripe, Mastercard, BlackRock, and Coinbase. Wall Street remains divided—Mizuho downgraded Circle from Neutral to Underperform with a $50 target, while Bernstein maintains an Outperform rating and a $190 target.
