Cathie Wood Calls Circle's IPO An 'Amazing Debut'

Stablecoin issuer Circle Internet Group, Inc. CRCL shares are climbing again Friday after the stock soared on its first day of trading on Thursday. The stock opened at around $69 and soared as high as $100 during the session, closing at $83.23, for a 168% gain from the IPO price. 

What To Know: Cathie Wood's ARK Invest scooped up 4.49 million shares worth over $373 million spread across ARK's Innovation ETF ARKK, Next Generation Internet ETF ARKW and Fintech Innovation ETF ARKF. 

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The acquisition could point to Ark’s bullish outlook on the stablecoin sector, as Circle positions itself at the forefront of digital payments and blockchain innovation. 

On Thursday evening, Wood highlighted Circle’s IPO in a post on X, calling it an "”amazing debut." 

Wood also pointed to a blog post written by ARK Invest anlayst Lorenzo Valente stating that stablecoins like USDC and Tether are creating significant demand for U.S. dollars, helping to counterbalance declining dollar demand from countries such as China. 

As of early 2025, Circle held over $22 billion in U.S. Treasuries, making it one of the largest non-sovereign holders of U.S. government debt. 

Tether and Circle combined hold more than $166 billion in U.S. Treasuries, a sum that would place them among the top foreign holders of U.S. debt—surpassing Germany and trailing only major holders such as China, Japan and the UK. 

CRCL Price Action: Circle shares were up 34.5% at $111.97 at the time of publication Friday, according to data from Benzinga Pro. 

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