Ark Invest buys $5.5 million worth of Circle shares as stock jumps 16% on Q1 earnings
Ark Invest purchased $5.5 million in Circle shares across three ETFs as the stablecoin issuer's stock surged 16% on strong Q1 earnings. Circle reported $694 million quarterly revenue and $21.5 trillion USDC transaction volume, up 263% year-over-year. The firm also raised $222 million for its new Arc blockchain at $3 billion valuation, attracting institutional backers including BlackRock and a16z crypto.
Key takeaways
- 1Ark Invest bought $5.5 million in Circle shares across three ETFs as stock jumped 16% on Q1 earnings.
- 2Circle reported $694 million Q1 revenue and USDC transaction volume surged 263% year-over-year to $21.5 trillion.
- 3Circle raised $222 million for Arc blockchain at $3 billion valuation from investors including BlackRock and a16z.
Why it matters
Circle's strong stablecoin growth and institutional backing signal mainstream crypto adoption expanding in India's regulated market. Ark's continued investment reflects institutional confidence in crypto infrastructure plays despite market volatility.
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