Ark Invest Buys $13.7 Million in Circle Shares on Stock Pullback

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Ark Invest bought approximately $13.7 million worth of Circle Internet Group shares on Thursday, according to the investment firm's latest trading disclosure. The purchases totaled 217,896 Circle shares across three exchange-traded funds: ARKK, ARKW, and ARKF, based on Thursday's closing price of $63.01 per share. The move comes after Circle's stock fell more than 20% over the past month, pressured by competition from Open USD, a new stablecoin project backed by over 140 companies including Visa, Stripe, Mastercard, BlackRock, and Coinbase. Circle is the issuer of USDC, a major dollar-backed stablecoin used across crypto exchanges, payment networks, and decentralized finance platforms.
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