Cathie Wood Buys Circle Shares and Sells Bitcoin ETF

ARK Invest purchased 65,615 shares of Circle and reduced its holdings in Bitcoin spot ETFs. This adjustment in the portfolio comes as Bitcoin prices show weakness below $80,000. On the 26th, ARK Invest bought Circle shares for approximately $5.2 million through its Next Generation Internet ETF (ARKW), and on the same day, sold a total of $15.9 million worth of ARK 21Shares Bitcoin ETF (ARKB) across two funds. Circle's stock closed down 7.1% at $79.84 on the 26th, marking a decline of 1.2% year-to-date. As of the 27th, Circle is the fifth largest holding in ARKW, with a valuation of about $67.8 million, accounting for 4.3% of total assets. Despite the sale, ARKB remains among the top 10 holdings in ARK Invest's major funds, while Bitcoin is trading at approximately $80,225 on the morning of the 27th. There has been an increase in trades in the Bitcoin options market to hedge against further declines, with the trading volume of options at the $80,000 strike price reaching about $32 million over the past week, and the proportion of put options has reached 91%.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.