ARK Invest Sells Additional Circle Shares Worth $44.76 Million
Led by Cathie Wood, the asset management firm ARK Invest sold approximately $51.7 million worth of Circle Internet Group Inc. (ticker: CRCL) shares on Monday and further reduced its holdings yesterday by selling $44.76 million worth of Circle stock.
According to the company’s latest trading documents, ARK Invest sold part of its Circle holdings through three of its funds on Tuesday. The “ARK Innovation ETF” (ARKK) sold 208,654 shares; the “ARK Next Generation Internet ETF” (ARKW) sold 65,320 shares; and the “ARK Fintech Innovation ETF” (ARKF) sold 26,134 shares.
Yahoo Finance data shows that CRCL closed at $149.15 on Tuesday, down 1.26%, but rebounded by 2.84% in after-hours trading. The current stock price remains well above the IPO price of $31.
ARK Invest acquired $373.4 million worth of shares when Circle went public on the New York Stock Exchange earlier this month, and has now realized approximately $96.46 million in cash from recent trades.
Circle’s USDC is currently the second-largest dollar stablecoin, following Tether’s USDT. The market sentiment for stablecoin investments continues to be strong, partly due to the push from the U.S. “GENIUS Act.” This critical stablecoin regulatory bill passed the Senate on Tuesday with a vote of 68 to 30 and is expected to undergo further review in the House of Representatives.