Cathie Wood's Ark Invest purchased $9.4 million worth of Circle (CRCL) shares on Monday, February 2nd. Ark spread the investment across two of its exchange-traded funds.
The purchase capitalized on a recent drop in CRCL's price. Circle stock closed down 7.9% to $58.86 on Monday, continuing a recent downtrend.
Ark Invest executed a "buy the dip" strategy. The firm demonstrated continued conviction in the crypto sector, as it also added to positions in other digital asset companies.