Cathie Wood buys millions in popular crypto stock on Chelsea FC deal
Veteran investor Cathie Wood‘s firm ARK Invest bought 35,192 shares of Circle Internet Group (NYSE: CRCL) worth around $3.36 million on Aug. 31.
Circle is a popular crypto company that issues the USDC stablecoin. As per the onchain analytics platform DeFiLlama, USDC currently has a market cap of $73.68 billion and accounts for more than 24% of the total stablecoin market.
Circle becomes Chelsea FC partner
On Aug. 28, Circle announced a principal partnership with Chelsea Football Club, following which the crypto company becomes the club’s official front-of-shirt partner.
In the 2026-27 season, Circle and USDC brands will appear on the front of Chelsea’s men’s, women’s, and academy shirts.
As the market opened Monday after the weekend announcement, ARK Invest purchased $3.36 million worth of Circle shares on Aug. 31. The CRCL stock closed 9% higher at $95.55 on Monday.
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ARK also buys Block shares
The same day, ARK Invest also bought 456,059 shares of Block, Inc. (NYSE: XYZ), the Bitcoin-centric fintech founded by Jack Dorsey.
Like Wood, Dorsey is also a strong believer in Bitcoin and has led the development of several products at Block, which integrate Bitcoin.
ARK’s purchase worth $37.4 million coincided with the Block stock closing at $80.20 on Monday, down 3.23% in a day.
The investment firm sold shares of Palantir, Shopify, Roblox, AMD, and Tempus AI on the same day.
Related: Cathie Wood sends a three-word message on crypto investing
This story was originally published by TheStreet on Sep 2, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.