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Cathie Wood’s ARK ETF reportedly buys 6.93M shares of SPAC merging with Circle

Published 01/14/2022, 03:39 PM
Updated 01/15/2022, 07:00 PM

Cathie Wood's Ark Invest has reportedly purchased 6.93 million shares of the special purchase acquisition company, or SPAC, that is merging with Circle, for $70.6 million through the company’s ARK Fintech Innovation exchange-traded fund (ETF). This purchase would represent a new position for the ETF, according to MarketWatch.

Ark Invest's ETFs have a history of bold purchases within the tech industry as indicated by their move to buy $80 million in Robinhood (NASDAQ:HOOD) shares after the prices dipped back in October 2021. Wood is also bullish on crypto despite passing on buying the first Bitcoin futures ETF that same month.

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