ARK Invest Sells $51.8 Million in Circle Shares Amid Stock Surge
ARK Invest, led by Cathie Wood, reduced its stake in Circle (CRCL) by selling $51.8 million worth of shares. The sale involved:
- 342,658 shares across three ETFs
- 196,367 shares from ARK Innovation ETF (ARKK)
- 92,310 shares from ARK Next Generation Internet ETF (ARKW)
- 53,981 shares from ARK Fintech Innovation ETF (ARKF)
Circle, the issuer of the USDC stablecoin, saw a 13% increase in stock price, closing at $151.06. Since listing on June 5, it has gained almost fivefold from its IPO price of $31. ARK originally invested $373 million in Circle on its debut day.
Additionally, ARK recently reduced positions in other crypto-related companies like Coinbase and Robinhood.