Clear Street Group Inc. acquired 631,957 shares of Circle Internet Group (CRCL) according to a recent filing. The investment is valued at approximately $83.785 million.
Circle now ranks as the 20th largest holding in Clear Street’s portfolio. The purchase represents a 0.28% ownership stake in the company.
Institutional interest follows positive analyst sentiment from Bernstein and Mizuho. Bernstein reiterated a buy rating for the firm. Mizuho recently raised its price target for the stock.
Market confidence is driven by the performance of Circle’s USDC stablecoin. The digital asset continues to gain significant market share.