TLDR
- Ark Invest bought 220,012 Circle shares worth ~$13.9M across ARKK, ARKW, and ARKF ETFs
- The firm also added $1.52M worth of Block Inc. shares through ARKW and ARKF
- Ark sold 27,742 Robinhood shares worth ~$3.15M as the stock rose 3.27%
- Circle has dropped 24.17% over the past month following the launch of rival stablecoin Open USD
- Mizuho downgraded Circle to Underperform and cut its price target from $85 to $50
Cathie Wood’s Ark Invest made a series of portfolio moves on Tuesday, buying into Circle Internet Group and Block Inc. while reducing its stake in Robinhood Markets.
Ark purchased 220,012 Circle shares across three of its ETFs — ARKK, ARKW, and ARKF. At Tuesday’s closing price of $63.22, that purchase came to roughly $13.9 million.
Circle closed up 0.35% on the day. Despite the daily gain, the stock is down 24.17% over the past month.
Circle’s Sharp Decline
The drop in Circle’s share price followed the launch of Open USD, a new stablecoin project seen as a direct competitor to Circle’s core business.
Mizuho analysts responded by downgrading Circle from Neutral to Underperform. They also cut their price target from $85 to $50, pointing to the threat Open USD poses to Circle’s revenue.
Not all analysts share that view. Some have maintained a positive outlook on Circle despite the recent pressure on the stock.
Ark’s purchases suggest the firm sees the recent selloff as a buying opportunity, though the firm has not made a public statement on its reasoning.
Block and Robinhood Moves
Through ARKW and ARKF, Ark also picked up 19,029 shares of Block Inc., the blockchain-focused fintech company co-founded by Jack Dorsey. That purchase was worth approximately $1.52 million.
Block closed up 1.61% on Tuesday at $79.99.
On the selling side, Ark offloaded 27,742 Robinhood shares worth around $3.15 million. Robinhood climbed 3.27% that day, closing at $113.45.
Ark’s decision to sell as Robinhood rose is consistent with its standard rebalancing strategy.
The firm has a policy of keeping any single stock below 10% of a fund’s total portfolio. When a stock rises sharply, Ark typically trims the position to stay within that limit.
This kind of disciplined rebalancing is a regular part of how Ark manages its ETF holdings.
Tuesday’s trades reflect that pattern across multiple positions at once.
Circle remains the largest move by dollar value in this latest round of trading activity.
The stock’s steep one-month decline appears to have prompted Ark to increase its exposure rather than pull back.
Whether Circle recovers will depend partly on how much market share Open USD captures and how regulators treat competing stablecoin projects.
Mizuho’s downgrade and reduced price target will likely keep some institutional investors cautious in the near term.
For now, Ark’s position in Circle has grown, and its Robinhood stake has shrunk.
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