Key Highlights:
- Ark Invest sold 415,844 Circle shares worth nearly $110 million.
- Circle’s stock has surged nearly 600% since its June IPO.
- Sale occurred across three Ark ETFs amid broader portfolio reshuffling.
Massive Profit-Taking on Circle Holdings
Cathie Wood’s Ark Invest has sold over $109 million worth of Circle shares across three of its ETFs—ARKK, ARKW, and ARKF. This comes amid a continued rally in Circle’s stock, which closed Monday at $263.45, well above its $31 IPO price. ARKK sold the largest portion (306,921 shares), followed by ARKW and ARKF. Circle, known for its role in issuing the USDC stablecoin, now has a market capitalization approaching $69 billion.IPO Aftermath and Market Context
Circle went public on June 5 through an upsized $1.1 billion IPO. The surge in price has delivered substantial gains to early investors like Ark Invest. The recent price momentum is partly driven by the Senate’s passage of the GENIUS Act, a stablecoin regulation bill. On the same day as the Circle share sale, Ark Invest also bought $24.4 million worth of Robinhood stock and added $1.3 million in Coinbase shares. Broader markets also trended upward, with the Nasdaq and Dow Jones both gaining nearly 1%.
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