Circle’s shares surged impressively during their New York Stock Exchange debut, hitting a peak of $103.75—around 50% above the $69 opening price. The stock closed at $83.23 on Thursday, marking a significant gain from its $31 IPO price.
On the first day of trading, Cathie Wood’s ARK Invest purchased nearly 4.5 million Circle (CRCL) shares, totaling about $373 million based on the closing price. This addition expands ARK’s portfolio of crypto-related companies, joining other holdings like Coinbase (COIN), Robinhood (HOOD), and Block (XYZ).
At the same time, ARK reduced its positions in several other crypto firms, selling $39 million worth of Coinbase shares, $18.5 million of Robinhood, and $10.4 million of Block.
The St. Petersburg, California-based investment manager remains active in adjusting its exposure to key players in the digital assets space.
