ARK Invest Snaps Up More CRCL Stock Amid NYDFS Regulatory Breakthrough

Cathie Wood's ARK Invest is buying into Circle Internet Group (NYSE:CRCL) stock, snapping up more shares after the stablecoin issuer secured a major regulatory breakthrough in New York. The New York Department of Financial Services granted a limited-purpose trust charter to Circle Internet Trust Company LLC (Circle New York Trust), allowing it to issue USDCs with state and federal trust powers.

The approval enhances Circle's regulatory framework, merging state regulation of USDC issuance with the company's earlier acquisition of federal trust powers from the U.S. Department of the Treasury's Office of the Comptroller of the Currency (OCC). According to CEO Jeremy Allaire, the charter 'puts USDC within a strong, respected framework as digital dollars become central to the global financial system.'

ARK Invest acquired nearly 109,129 Circle shares at $62.61 each, worth around $6.83 million. The firm also bought shares in other companies, including CoreWeave and Pony AI, while cutting its stakes in several others.