TLDR
- ARK Invest purchased 4,486,560 Circle shares worth $373.4 million during its IPO on the New York Stock Exchange.
- Circle stock opened at $69 and peaked at over $96 before closing at $83.23 on its first day of trading.
- The stock gained 168.5 percent from its IPO price of $31, reflecting strong demand and market enthusiasm.
- ARK purchased its ARKK, ARKW, and ARKF funds, which focus on innovation and fintech.
- Circle had previously attempted to go public through a SPAC merger and later through a confidential IPO filing.
Cathie Wood’s ARK Invest acquired $373.4 million worth of Circle (CRCL) shares as the company debuted on NYSE. The firm bought 4,486,560 shares through its ARKK, ARKW, and ARKF ETFs, adding to its crypto-focused portfolio. This move positions Circle alongside ARK’s previous holdings in Coinbase, Robinhood, and Block.
Circle officially began trading under the ticker CRCL on the New York Stock Exchange after completing its long-anticipated public listing. The company’s stock surged dramatically, reflecting high demand and strong market entry. Despite previous delays, Circle completed the IPO with a significantly upsized offering.
Circle’s stock opened at $69, more than double its IPO price of $31, and soared to a high of $96. It later closed at $83.23, marking a 168.5% gain from the offering price. The performance signaled market optimism surrounding Circle’s role in digital financial infrastructure.
Circle (CRCL) Surges Over 160% on Market Debut
Circle achieved public status after multiple delays, including a failed SPAC merger in 2021 and a confidential filing in 2024. Regulatory concerns earlier emerged due to global trade uncertainties, but the firm moved ahead with its listing in June. The IPO gained attention amid prior merger speculation involving Ripple and Coinbase.
The CRCL stock’s strong performance followed months of anticipation and speculation over Circle’s future ownership and market direction. Due to growing interest and strong order volume from funds and institutions, the share offering was increased. This outcome marked a turning point for stablecoin-related public equities.
Circle focuses on building digital financial systems and operates the USDC stablecoin and Circle Payments platform globally. Its transition into the public market supports its plan to scale product offerings and expand globally. The company aims to support “frictionless value exchange” across a fully connected internet-based economy.
ARK Invest Expands Crypto Holdings With Circle
ARK Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Fintech Innovation ETF (ARKF) collectively secured 4.5 million shares of Circle. The purchase, worth $373.4 million, marked ARK’s latest expansion into crypto-infrastructure equities. The funds were added to Circle immediately upon its IPO launch on the NYSE.
The strategic buy aligns with ARK’s long-term interest in companies shaping internet-native financial services. ARK previously acquired substantial stakes in firms like Coinbase, Robinhood, and Block, all known for fintech and digital assets. The Circle investment continues that pattern while diversifying ARK’s exposure to stablecoin platforms.
