Cathie Wood’s Ark Invest has dumped 342,658 shares of Circle Internet Group Inc. worth about $51.7 million across its three ETFs, as investor interest sent the stablecoin issuer’s shares to a new record high.
Ark Invest Sells Circle Shares for $51.7 Million as Stock Hits Record High
According to the company’s latest trading statement on Monday:
- ARK Innovation ETF (ARKK) sold 196,367 shares.
- ARK Next Generation Internet ETF (ARKW) sold 92,310 shares.
- ARK Fintech Innovation ETF (ARKF) sold 53,981 shares.
The move comes after Circle’s shares (CRCL) rose to $165.60 intraday before closing up 13.1% at a record $151.06, nearly five times its $31 IPO price earlier this month, according to Yahoo Finance data.
Ark’s sale follows the company’s significant investment in Circle during its major $1.1 billion IPO, in which Ark reportedly purchased $373.4 million worth of CRCL shares. The strategic cut suggests that Ark has retained a significant position in the stablecoin leader while benefiting from the recent rally.
Circle, the issuer of USDC, the second-largest stablecoin pegged to the US dollar after Tether’s USDT, continues to benefit from growing market interest in tokenized dollars.
This momentum is also supported by regulatory factors, particularly the upcoming Senate vote on the GENIUS Act, a major stablecoin-related bill.
Commenting on the industry outlook, Circle CEO Jeremy Allaire said on social media that the market has yet to reach the inflection point:
“We have not yet reached the iPhone moment when developers everywhere realize the power and opportunities of programmable digital dollars on the Internet… It will come soon.”
With policy support strengthening and investor sentiment buoyant, Circle and USDC are increasingly seen as important players in the evolution of digital finance.
*This is not investment advice.