Cathie Wood's ARK Invest has acquired 220,012 Circle Internet Group (CRCL) shares worth approximately $13.9 million, adding to its position as the stock dropped below $64 and every major daily moving average.

According to ARK Invest's trading disclosure, the firm distributed the purchase across three actively managed exchange-traded funds. The ARK Innovation ETF (ARKK) acquired 159,517 shares, while the ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) added 42,400 and 18,095 shares, respectively.

Here is every move that Cathie Wood and Ark Invest made in the stock market today 7/22 pic.twitter.com/sEN52AsNDl — Ark Invest Tracker (@ArkkDaily) July 23, 2026

The purchase extends ARK's pattern of accumulating shares during Circle's steep market decline. CRCL traded at $63.38 on July 23 after falling 4.20%, with the session reaching a high of $65.41 and a low of $61.49, according to TradingView data.

Circle operates USDC, a dollar-backed stablecoin widely used across cryptocurrency exchanges, payment services, and decentralized finance applications. That makes Circle's public-market performance a closely watched proxy for investor appetite toward stablecoin infrastructure, not only for speculative crypto exposure. The company's stock has faced pressure as broader negative sentiment toward crypto-linked companies has diminished investor appetite for volatile digital-asset equities.

ARK characterizes its strategy as centered on companies connected to disruptive technologies and long-term growth—a stance that can expose its funds to significant price swings. Wood's purchase indicates ARK's willingness to increase exposure during the downturn, though the firm has not indicated that CRCL has reached a bottom.

Similar Strategy with SpaceX

Earlier in the week, ARK applied a comparable approach to another high-volatility position. As reported by crypto.news, four ARK funds purchased 170,634 SpaceX shares valued at approximately $20.45 million while the stock traded below its $135 initial public offering price.

SpaceX subsequently climbed 7.10% to $128.37, giving ARK an early unrealized gain on the new position. While SpaceX and Circle operate in entirely different sectors, both transactions demonstrate ARK's tendency to add to selected holdings following substantial declines rather than waiting for technical confirmation of a recovery.

CLARITY Act Progress Offers Regulatory Catalyst

Circle's outlook is also tied to developments surrounding the Digital Asset Market Clarity Act, legislation that could establish federal rules for digital-asset markets and allocate regulatory responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Senator Cynthia Lummis released an updated version of the bill on July 22, merging texts previously advanced by the Senate Banking and Agriculture committees. In her announcement, Lummis described the coming weeks as a critical window for reaching an agreement that could enable the bill to pass into law.

Senate Banking Committee Chairman Tim Scott and Senate Agriculture Committee Chairman John Boozman have endorsed the revised framework. According to Lummis' official release, Boozman argued that the proposal would provide consumers, companies, and markets with clearer rules while adding safeguards for digital-asset activity.

For Circle specifically, passage of the legislation could reduce regulatory uncertainty for businesses that issue stablecoins or provide related financial services. Such clarity could make it easier for institutions to evaluate USDC-based products, because market participants generally need defined compliance obligations before expanding regulated financial use cases. However, the proposal still requires sufficient Senate support and final approval before its provisions can take effect.

The latest draft faces political hurdles despite Republican backing. Some Democrats have reportedly objected to the proposal's treatment of crypto-related conflicts involving government officials—a dispute that could complicate efforts to secure the 60 votes typically required to advance legislation in the Senate.

CRCL Remains Bearish Despite Improving MACD Momentum

CRCL's daily chart indicates that sellers continue to dictate the primary trend, even as one momentum indicator has begun to turn. At $63.38, the stock trades below its 20-day simple moving average of $65.68, while the 50-day average sits considerably higher at $84.24.

Longer-term resistance levels are even more distant. The chart shows the 100-day moving average at $95.02 and the 200-day average at $92.14, placing CRCL below all four major trend indicators following a decline from its May peak near $140.

A recent rebound reached the $70–$72 zone but failed to hold. Buyers would need to reclaim the 20-day average at $65.68 before testing that rejection area. A daily close above $72 would offer stronger evidence of returning demand, while the 50-day average at $84.24 would stand as the next significant barrier.

On the downside, the July 23 intraday low establishes immediate support near $61.50. The chart also reveals a demand zone between $58 and $60, where buyers previously halted the decline. A sustained break below $58 would extend the pattern of lower lows and expose CRCL to further downside.

Momentum has shown one tentative sign of improvement. The daily Moving Average Convergence Divergence (MACD) line has risen to negative 4.74, above its signal line at negative 6.10, while the histogram has turned positive at 1.36.

Because both MACD lines remain below zero, the chart suggests that selling pressure has moderated without confirming a trend reversal. Until CRCL reclaims $65.68 and subsequently the $70–$72 zone, ARK's latest acquisition represents a contrarian position against an established downtrend rather than confirmation that Circle's stock has established a durable bottom.

Disclosure: This article does not represent investment advice. The content and materials featured are for educational purposes only.