On Wednesday, Cathie Wood-led Ark Invest executed significant trades involving Alibaba Group Holding Ltd (NYSE:BABA), Circle Internet Group Inc (NYSE:CRCL), and Bullish (NYSE:BLSH). These trades reflect Ark’s strategic adjustments amid evolving market conditions.
The Circle Trade
Ark Invest made a notable acquisition of Circle shares across multiple ETFs, including ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK), and ARK Next Generation Internet ETF (BATS:ARKW). The total purchase amounted to 287,609 shares. The closing price for CRCL on Wednesday was $61.95, resulting in a total transaction value of approximately $17.8 million.
Circle Internet Group is currently navigating a competitive landscape, facing challenges from the newly launched Open USD stablecoin. This rival stablecoin, backed by over 140 companies, including Visa and Mastercard, presents a threat to Circle’s market position.
Despite a recent 17% drop in CRCL’s stock price, analysts at Bernstein maintain a target price of $190, indicating potential for future growth.
The Bullish Trade
Ark Invest also increased its holdings in Bullish by purchasing a total of 27,740 shares through ARKF, ARKK, and ARKW. The closing price for BLSH on Wednesday was $25.23, translating to a total investment of approximately $700,000.
Bullish has shown resilience despite facing bearish market pressures. Analysts have noted the company’s strong first-quarter performance, although uncertainties remain.
Notably, Ark has been purchasing Bullish shares despite a downturn in cryptocurrency prices recently. On Tuesday, Ark bought $3.1 million worth of stock in the Peter Thiel-backed cryptocurrency trading platform.
Meanwhile, leading cryptocurrencies advanced on Wednesday night, with Bitcoin (CRYPTO: BTC) rising 2.91% to about $59,898 and Ethereum (CRYPTO: ETH) gaining 2.86% to around $1,610, as more than $450 million in crypto positions were liquidated, including $279 million in short positions. Bitcoin’s open interest increased 1.80%, while buying activity outpaced selling. Even so, Bitcoin is down almost 52% from its October 2025 all-time highs of $126,198.07.
The Alibaba Trade
Ark Invest reduced its stake in Alibaba by selling a total of 79,632 shares across ARKF, ARKK, and ARKW. With a closing price of $97.99 on Wednesday, the sale amounted to approximately $7.81 million.
Ark has been steadily trimming its Alibaba position. The firm sold $2.5 million worth of the stock on Tuesday, following a $16.7 million sale last Thursday and another $885,568 worth of shares on Monday.
Alibaba has been under scrutiny following allegations from Anthropic regarding the misuse of AI models. The company’s stock continues to trade near its 52-week low, making it susceptible to broader market fluctuations. More recently, Alibaba lost five Washington lobbying firms after new U.S. rules barred the Defense Department from working with contractors represented by lobbyists who also represent companies on the Pentagon’s 1260H blacklist. Alibaba, which denies ties to China’s military, sued the Pentagon seeking removal from the list, saying the restrictions had already caused lobbying firms to end their relationships with the company.
Other Key Trades
- Sold 52,137 shares of Roku Inc. (ROKU) in ARKK and 15,730 shares in ARKW.
- Bought 83,891 shares of Alamar Biosciences Inc (ALMR) in ARKG.
- Sold 142,067 shares of Strata Critical Medical Inc (SRTA) in ARKQ.
- Bought 59,155 shares of Recursion Pharmaceuticals Inc (RXRX) in ARKK and 38,678 shares in ARKG.
Benzinga Edge Stock Rankings indicate Circle stock has a Momentum score in the 2nd percentile.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Ira Lichi / Shutterstock
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