Cathie Wood’s Ark Invest offloaded $109.6 million worth of Circle (CRCL) shares across three of its exchange-traded funds, ARKK, ARKW, and ARKF on Monday, as the stock continued to surge following its initial public offering.
The sale involved a total of 415,844 shares of Circle (CRCL), adding to Ark’s recent string of sell-offs, as of June 23. This latest move comes shortly after Ark Invest dumped more than $240 million worth of Circle shares across three separate trading sessions last week, on June 16, 17, and 20, signaling a significant trimming of its position amid the stock’s strong post-IPO momentum.
The ARK Innovation ETF (ARKK) led Monday’s sell-off, unloading the largest portion of CRCL shares. It was followed by the ARK Next Generation Internet ETF (ARKW), which sold off 72,302 shares, and the ARK Fintech Innovation ETF (ARKF), which offloaded another 36,621 shares.
According to data from Cathiesark.com, which monitors ARK’s ETF holdings and daily trades, the firm sold approximately $255.9 million worth of CRCL shares between June 16th and June 23rd.
The largest single-day sale occurred on June 20th, when ARK offloaded $111.6 million in CRCL stock as prices surged by more than 20% in one trading session.
According to Ark’s daily trade disclosure, the sales were distributed among its core funds:
- ARK Innovation ETF (ARKK) sold 306,921 Circle shares, valued at approximately $80.84 million based on Circle’s current trading price of $263.45.
- ARK Next Generation Internet ETF (ARKW) offloaded 72,302 shares, worth roughly $19.04 million at the same share price.
- ARK Fintech Innovation ETF (ARKF) sold 36,621 shares, amounting to an estimated $9.65 million in value.
Circle, the issuer of the second-largest USD-backed stablecoin USDC and the euro-denominated Euro Coin (EURC), began trading on the New York Stock Exchange (NYSE) on June 5th.
On the first day of trading, CRCL opened at $69, quickly jumping to $103 before pulling back and closing the day at $83. The stock has maintained a strong bullish trend, recently reaching an all-time high of $248.
ARK Invest is locking in significant gains from Circle’s post-IPO rally, even as the stablecoin issuer benefits from growing regulatory clarity and investor enthusiasm. As Circle solidifies its position in the digital finance space, its future growth may continue to attract both institutional and retail interest, whether or not ARK is along for the entire ride.
As of writing, CRCL closed at 263.45 on Monday.
Also Read: ARK Invest Sells $146M in Circle Stock After 675% IPO Surge
