- ARK has acquired Circle shares for the amount of about $ 6,83 million through three exchange-traded funds.
- Circle received limited liability trust charter from the New York Department of Financial Services.
- On July 31, CRCL shares fell 2,54% to $62,61. despite regulatory approval.
ARK Invest , led by Cathie Wood, purchased approximately 109,129 shares of Circle stock for nearly $6,83 million. The purchase was made through three exchange-traded funds: the flagship ARK Innovation ETF (77,103 shares), the ARK Next Generation Internet ETF (22,238 shares), and the ARK Fintech Innovation ETF (9.788 shares).
Source: X
A few days before the acquisition, Circle received a trust license from the New York Department of Financial Services. The approval applies to Circle Internet Trust Company LLC, which will operate under the name Circle New York Trust. The company's CEO, Jeremy Allaire, called this a "long-term goal for the company."
Despite regulatory approval, CRCL shares fell 2,54% to $62,61 on July 31, according to Yahoo Finance. Investors likely didn't see the license as a reason for the stock to rise.
ARK Invest also acquired approximately $40,2 million in Tesla, SpaceX, and Nvidia shares amid the tech selloff. Cathie Wood's firm also reduced its stakes in a number of other companies, including Shopify, Cloudflare, and CrowdStrike.
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