Cathie Wood’s ARK Invest bought nearly 4.5 million (CRCL) shares on the first day of trading by Stablecoin issuers, which was worth $373 million at the closing price of the stock.
The St. Petersburg, California-based investment manager soon added USDC issuers to their portfolio companies that, along with companies like Coinbase (Coin), Robinhood (Hood), and Block (XYZ), offer risks to the crypto industry.
Circle Stocks of the company’s debut on the New York Stock Exchange soarclimbing up to $103.75, about 50% higher than its $69 opening price. CRCL Closed at $83.23 on Thursday. The IPO price is $31.
Ark has also unloaded a large number of stocks at other cryptocurrency companies, selling $39 million in coins, $18.5 million in Hood and $10.4 million in XYZ.
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