This week, Ark Invest, managed by Cathie Wood, reported investing in shares of Circle Internet Group and SpaceX.
Ark Invest purchased 273,343 shares of Circle, the issuer of the stablecoin $USDC, through its exchange-traded funds Ark Innovation ETF (ARKK), Ark Next Generation Internet ETF (ARKW), and Ark Blockchain & Fintech Innovation ETF (ARKF). At the closing price of $63.28, this purchase amounted to $17.3 million.
Circle's share in the ARKK portfolio now stands at 3.68%, roughly equivalent to $223.4 million, which aligns with the company's strategy where no single asset should exceed 10% of the fund's portfolio.
Circle's financial results for the second quarter were positive. On August 4, the company reported that its revenue grew by 7% to reach $701 million, and the circulation volume of $USDC increased by 19% to $73.3 billion.
Simultaneously, Ark Invest purchased 181,830 shares of SpaceX through ARKK, ARKQ, ARKW, and ARKX for nearly $20 million.
Earlier, the Happy Coin News editorial reported that despite the company's impressive revenue growth of 92% to $7.8 billion, SpaceX's stock fell by 13.61% due to high costs, which exceeded $18.4 billion in the second quarter. Management explained the expenses as expanding artificial intelligence capabilities, and Elon Musk expressed confidence that the company's revenue would reach $1 trillion by 2029-2030.
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