ARK Invest Sells $51.8 Million in Circle Shares Following IPO Surge
Cathie Wood‘s ARK Invest has divested a significant portion of its Circle (CRCL) shares, selling $51.8 million as the stock price continues to rally post-IPO.
ARK Invest Divestment Details
- In May, Circle filed for an IPO on the NYSE and received approval on June 5.
- ARK Invest initially purchased $373 million worth of Circle shares during the IPO.
- Only eleven days after the IPO, ARK sold 342,658 shares across three ETFs:
- 196,367 shares from ARKK
- 92,310 shares from ARKW
- 53,981 shares from ARKF
- Despite the sell-off, Circle remains a top holding in ARK’s ETFs, with ARKK holding $387.7 million (6.6% of total assets).
- ARKW holds $124 million in CRCL (6.7% of its assets), while ARKF holds $72 million (6.7%).
SBI Holdings Investment
- SBI Group invested $50 million in Circle on June 9, representing 5% of the shares offered during the IPO.
- This investment strengthens SBI's partnership with Circle to expand USDC adoption in Japan.
- Circle shares have increased from $69 at the IPO to $157.02.