Cathie Wood buys $30M of sinking crypto stock

Legendary investor Cathie Wood has earned a reputation for identifying emerging tech trends, including crypto and AI. Whether it's  Coinbase (Nasdaq: COIN),  Robinhood (Nasdaq: HOOD), or Bitmine Immersion (NYSE: BMNR), nearly every leading crypto stock finds a home in her portfolio.

Wood also has a remarkable ability to correct her future assessments as per the changing market conditions. For instance, she recently retreated from her Bitcoin (BTC) price prediction of $1.5 million and lowered it to $1.2 million as she felt that stablecoins are playing a role that she once thought BTC would play.

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As the situation demands, her investment fund, ARK Invest, loads up or dumps crypto stocks. Her latest purchase of a sinking crypto stock demonstrates her unique ability to sense the turn in the markets.

Cathie Wood buys Circle shares worth $30M

On Nov. 12,  ARK Invest bought Circle Internet Group (NYSE: CRCL) shares worth more than $30 million.

Three exchange-traded funds (ETFs) absorbed the acquisition:

• ARK Innovation ETF (ARKK): 245,830 shares

• ARK Next Generation Internet ETF (ARKW): 70,613 shares

• ARK Fintech Innovation ETF (ARKF): 36,885 shares

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The purchase came amidst the CRCL shares sinking after Circle reported its third-quarter earnings yesterday.

Notably, Circle is a prominent stablecoin issuer and its USD Coin (USDC) offering is the second-largest stablecoin after Tether's USDT. Wood's latest purchase proves that her conviction is backed by her investment choices.

As far as Circle's Q3 earnings are concerned, the company reported the total revenue and reserve income of $740 million, up 66% YoY. Its net income increased 202% YoY to $214 million, and its earnings per share (EPS) of $0.64 against the estimated $0.22.

Nonetheless, traders felt disappointed as the company's stock plunged more than 12% to close at $86.30 yesterday. It was exchanging hands at $85.90 in pre-market hours.

Related: Cathie Wood backs down on $1.5M Bitcoin price prediction

This story was originally reported by TheStreet on Nov 13, 2025, where it first appeared in the Technology News section. Add TheStreet as a Preferred Source by clicking here.