Cathie Wood’s Ark Invest buys the dip with new purchases of Circle, Bullish and BitMine shares.
The asset manager said it bought $15.56 million worth of Circle shares through its three ETFs (exchange-traded funds). The ARK Innovation ETF (ARKK) bought 130,595 Circle shares, while the ARK Next Generation Internet ETF (ARKW) and the ARK Fintech Innovation ETF (ARKF) bought 38,313 and 20,033 Circle shares, respectively.
Here’s every move Cathie Wood and Ark Invest made in the stock market today on November 13th pic.twitter.com/kT31a9mzva
— Ark Invest Tracker (@ArkkDaily) November 14, 2025
Through these funds, Ark Invest also purchased 242,347 shares in BitMine worth approximately $8.86 million, and 177,480 Bullish shares for $7.28 million.
Ark Invest Bullish Stablecoin Growth Outlook
It is the second day in a row that Ark Invest has bought Circle shares in its funds. Prior to the latest purchase, the asset management firm had acquired a total of 353,328 Circle shares for more than $30 million.
Here’s every move Cathie Wood and Ark Invest made in the stock market today, 11/12 pic.twitter.com/hXQWyCv2RU
— Ark Invest Tracker (@ArkkDaily) November 13, 2025
The bet on Circle is fueled by the company’s prediction that the stablecoin market will continue to grow in the coming years.
In an earlier interview Speaking to CNBC, Wood said stablecoins are increasingly being used in place of Bitcoin to make payments, and are scaling faster than the largest cryptocurrencies by market cap.
That’s why Ark has lowered its Bitcoin price target from $1.5 million previously to $1.2 million by 2030.
“Stablecoins are taking over some of the role we thought Bitcoin would play,” Wood said. “Given what’s happening with stablecoins – serving emerging markets the way we thought Bitcoin would – I think we can subtract $300,000 from this bullish case. [for Bitcoin].”
Circle’s USDC is the second largest stablecoin with a market cap of over $75.6 billion.
ARK buys the dip
The Ark purchases came as the crypto industry’s market cap fell more than 6% in the past 24 hours to about $3.27 trillion as of 6:22 a.m. EST, according to CoinMarketCap.
Crypto-related stocks also fell USD Coin (USDC) issuer Circle, which went public earlier this year, fell more than 4% in the past 24 hours, according to Google Finance.
Circle stock price (Source: Google Finance)
Shares of Circle are now down more than 38% in the past month.
BitMine’s share price took an even bigger hit in the past 24 hours, falling more than 9%, while Bullish, the digital trading platform backed by Peter Thiel, saw its share price fall by a similar amount.
Circle reported strong performance in the third quarter and receives an Outperform rating for its stock
Although Circle’s share price has fallen in recent months, the stablecoin issuer reported that third-quarter revenue rose 66% from a year earlier to $740 million.
Circle also launched the testnet of its layer-1 Arc blockchain, which it said saw the participation of more than 100 companies from various industries.
With the strong third-quarter performance and the launch of blockchain, other analysts shared Wood’s view that Circle stock may be undervalued. They include analysts at investment bank William Blair, which gave the company an “outperform” rating on its shares in a report earlier this week.
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