As of July 17, 2025, Cathy Wood’s ARKK Fund holds a juicy 5.52% of its portfolio in Circle Internet Group Inc (CRCL)—that’s 1.74 million shares worth over $406 million. Cathie’s not just dabbling; she’s circling hard. 📈💥

But what about the rest of Wall Street? Not quite there yet. Institutional ownership is still relatively light. Could be early innings for Circle. Or a trap. Or a revolution. (We lean toward revolution. With stablecoins.)

🔍 For Emerging Institutional Ownership breakdown, see here. 

🧨 Trigger #1: Legislative Fireworks in D.C.

Shares of CRCL surged nearly 20% after an overnight turnaround in Washington. Trump secured support to revive a stablecoin bill, dubbed the GENIUS Act—a key regulatory framework for the crypto world. One day: blocked. The next? Trump says, "I’ve got 11 lawmakers flipped." Boom.

This is big: Stablecoins make up 85% of Circle’s revenue. A clear legal framework boosts legitimacy and adoption. Cue bullish investors.

🎯 Trigger #2: Wall Street’s Confused Embrace

• Needham: Buy, $250 target ✅

• Barclays: Overweight, $215 👍

• JP Morgan: Underweight, $80 ❌

• Mizuho: Underperform, $85 🫠

It’s either the next Visa—or the next Pets.com. You decide.

🌐 What Does Circle Even Do?

Think of it as Stripe meets the U.S. Treasury with a side of blockchain. Circle runs a global platform for stablecoins (think: USDC), offering payment networks, liquidity, dev tools, and more. It was founded in 2013 and is based atop the 87th floor of One World Trade Center—because symbolism matters.

💸 Financials That Don’t Lie (or Cry)

Annual Revenue (in $000s):

• 2022: $1.45B

• 2023: $1.68B

• 2024: $1.89B (TTM)

Net Income (TTM): $173M
Operating Income: $214M
EBITDA: $293M

Q1 2025 Highlights:

• Revenue up 58.5% YoY

• Net income: $64.8M, up 33% sequentially

Not bad for a fintech crypto darling.

👉 Want the full picture? Dive into Circle Internet Group's financials here.

🚀 Why the Hype Might Be Real

1. Profitability + Growth = rare combo

2. High margins from investing USDC reserves in short-term Treasuries

3. Massive TAM in global payments (Visa, Mastercard, BlackRock, Amazon, Shopify...)

4. Strategic partnerships (Bybit, Coinbase)

5. Cathie Wood Effect: If it goes parabolic, she’s your north star (or scapegoat)

⚠️ What Could Go Wrong?

1. Regulatory volatility – it giveth and taketh

2. High distribution costs (especially to Coinbase)

3. Valuation? Yikes.

   • Trailing P/E: 2240 😳

   • Forward P/E: 161

   • Price/Sales: 24

   • Price/Book: 59.69

No matter how sweet the tech, those multiples bite.

💡💡💡 Curious about another deep oil exploration play?
Check our takes on UnitedHealth Group or even Oscar Health.

💭 Verdict?

Circle may be the most elegant play on stablecoins. But after a near-20% rally, you might want to wait for a discount. Think: $100–$150 range, not $233.

Still, if you're a long-term believer in the future of programmable money, digital dollars, and frictionless finance, it’s worth watching—or even nibbling.

And hey, we like running in circles. So it’s no surprise we’re tempted to invest in one — just maybe not at $233. 😉

🚨 Disclaimer:

This isn’t investment advice. Just funny, informed commentary from people who think finance should be fun.™

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