A sharp pullback in crypto-related stocks opened the door for fresh buying this week. Circle, BitMine and Bullish all slid hard, yet the decline triggered renewed interest from Ark Invest, which moved quickly to rebuild several positions.
Circle saw the steepest drop, falling more than 12 percent in a single day. The selloff came only hours after the company posted strong quarterly figures. Revenue reached $740 million, a 66 percent jump from last year, while net income rose to $214 million.
USDC growth signals momentum
USDC circulation also grew sharply, climbing to $73.7 billion after more than doubling year-over-year. Circle’s Arc blockchain testnet went live during the same period, attracting interest from over one hundred financial and technology firms.
Concerns over lower reserve income weighed on the stock as traders looked ahead to Federal Reserve rate cuts. Circle’s CFO Jeremy Fox-Geen pushed back on that idea, saying the business continues to grow in a falling-rate environment. He also argued that lower rates tend to increase activity across payments and on-chain transactions.
Ark doubles down
Cathie Wood responded to the dip by adding more than 353,000 Circle shares across three Ark ETFs. The move marked Ark’s second day of heavy buying and reflected ongoing confidence in stablecoin adoption. Wood also increased exposure to BitMine Immersion, which has become a key Ethereum-focused holding after a strong run earlier this year.
Analysts at William Blair supported the buying activity, calling Circle undervalued and rating the stock “outperform.” Their report highlighted Circle’s expanding role in digital payments and its growing share of the stablecoin market. The week’s trades suggest Ark sees the downturn as temporary pressure rather than a shift in long-term fundamentals.
