Cathie Wood's favorite crypto stock is still down 66% from record highs

Few names lit up Wall Street successful 2025 similar 1 crypto sector's breakout IPO.

It tore retired of the gross past June, minted overnight winners, and rapidly became the banal each trader wanted a portion of. For a fewer heady weeks, it looked unstoppable.

Today, the crypto banal trades astatine 66% beneath its all-time high.

One high-profile wealth manager hasn't flinched, though. As the stock terms slid period aft month, she kept buying, and the banal present ranks among her largest holdings.

Why Circle banal became a crypto marketplace bellwether

Circle Internet Group isn't a meme coin oregon a mining play. It's the institution down USDC, the world's second-largest stablecoin.

A stablecoin is simply a integer dollar. One USDC is ever adjacent to 1 U.S. dollar, backed by currency and short-term Treasuries.

That makes Circle (CRCL) little of a crypto gamble and much of a plumbing institution for integer money.

Circle went nationalist successful June 2025 astatine $31 a share. Within weeks, it reached a closing precocious of $263.45 connected June 23, 2025.

That's a stunning tally for immoderate caller listing.

Since then, world has acceptable in. At the clip of writing, CRCL banal trades astir $91, valuing the institution astatine a marketplace headdress of $22.5 billion.

The digital-asset marketplace is down implicit 50% from its October 2025 peak, and Circle got swept up successful the tide.

When you recognize wherefore the banal fell, the adjacent portion gets a batch much interesting.

Cathie Wood keeps buying Circle banal during the slump

Here's the twist. While astir investors headed for the exits, Cathie Wood remained bullish.

Her ARK funds archetypal bought Circle successful Q2 of 2025, scooping up 2.92 cardinal shares, according to information from Stock Circle.

• Q3 2025: Added 42,500 shares astatine an mean closing terms of $138.55

• Q4 2025: Added 1.17 cardinal shares (a 39.6% jump) astatine an mean of $102.88

• Q1 2026: Added different 368,000 shares astatine an mean of $80.20

Add it up, and ARK present holds 4.51 cardinal Circle shares worthy astir $408 million. That's 2.72% of the equity portfolio and her 10th-largest position.

Fund manager buys and sells

• Cathie Wood buys $2.5 cardinal of tumbling megacap stock

• Warren Buffett dumped 77% of Amazon to bargain surging media stock

• Cathie Wood buys $11 cardinal of tumbling megacap tech stock

ARK owns astir 1.35% of each outstanding Circle stock.

Wood’s estimated outgo ground sits adjacent $98.60 a share. With the banal astir $90, that's a insubstantial nonaccomplishment of astir 8.1%.

Wood's playbook seldom tracks short-term sentiment. She buys disruptors erstwhile they're inexpensive and unloved, betting the semipermanent communicative wins out. Circle fits that mold perfectly.

A beardown show successful Q1

In its first-quarter report, Circle said: