Ark Invest made a series of bold moves on Thursday, picking up fresh positions in Circle Internet Group, BitMine Immersion Technologies, and Bullish despite sharp declines across all three stocks.
A filing shows that three of Ark’s exchange-traded funds collectively bought $15.56 million in Circle shares. The ARK Innovation ETF (ARKK) led the purchases with 130,595 shares, while the ARK Next Generation Internet ETF (ARKW) added 38,313 shares. The ARK Fintech Innovation ETF (ARKF) rounded out the buying with 20,033 shares.
Ark didn’t stop there. The funds also acquired 242,347 shares of BitMine, valued at about $8.86 million, and 177,480 shares of Bullish, worth $7.28 million.
Buying the Dip
The acquisitions came as all three companies saw notable declines. Circle’s stock dropped 4.59% to $82.34, while BitMine fell 9.86% to $36.57 and Bullish slid 9.85% to $41.02.
Even with Thursday’s pullback, Circle has had a standout year. Earlier this week, the company reported third-quarter revenue of $740 million, a 66% year-over-year increase. Net income surged 202% to $214 million, and USDC circulation rose to $73.7 billion, more than doubling from a year earlier.
The strong performance hasn’t gone unnoticed. Analysts at William Blair issued an “outperform” rating on Wednesday, citing Circle’s growing position in what they describe as a winner-take-most market. They highlighted the company’s expanding infrastructure, including the Circle Payments Network and its new blockchain ecosystem, Arc.
Circle Eyes a New Onchain Future
Circle also revealed this week that it is exploring a native token for the Arc blockchain. The company launched the Arc public testnet last month, positioning the Layer 1 chain as a home for stablecoin-focused programmable finance. A native token could help deepen participation, liquidity, and ecosystem growth as Arc evolves.
