On July 31, ARK Invest acquired 109,129 shares of Circle, the stablecoin issuer, after it obtained a limited-purpose trust charter from New York’s Department of Financial Services. The purchase, spread across three ARK ETFs, was valued at around $6.83 million based on Circle’s closing price of $62.61 that day.
The bulk of the shares, 77,103, went to the ARK Innovation ETF. The ARK Next Generation Internet ETF added 22,238 shares, and the ARK Fintech Innovation ETF bought 9,788. This move increases ARK’s stake in Circle amid its plans to shift USDC stablecoin issuance to its new New York trust entity.
Circle’s Regulatory Advance and ARK’s Broader Moves
The New York limited-purpose trust charter allows Circle to offer approved virtual currency services with fiduciary powers and streamlines money transmission without a separate license. Circle plans to gradually transfer USDC issuance to Circle New York Trust, complementing its federally chartered Circle National Trust.
Besides Circle, ARK made several other purchases on July 31, including CoreWeave, 3iQ Solana Staking ETF, Pony AI, and Kodiak AI shares. The firm also trimmed positions in Shopify, Cloudflare, CrowdStrike, and other tech names. This follows ARK’s roughly $40.2 million buy in Tesla, SpaceX, and Nvidia stocks on July 28 during broader tech sector weakness.
