Cathie Wood’s ARK Invest has significantly reduced its stake in Circle (CRCL), selling $146.2 million worth of shares as the stock surged nearly 250% since its public debut. Despite the sell-off, ARK remains the eighth-largest Circle shareholder, holding a substantial position in the stablecoin issuer.
ARK’s Latest Circle Stock Sale
On June 20, ARK offloaded 609,175 Circle shares across three of its ETFs:
- ARK Innovation ETF (ARKK) – Sold 490,549 shares
- ARK Next Generation Internet ETF (ARKW) – Sold 75,018 shares
- ARK Fintech Innovation ETF (ARKF) – Sold 43,608 shares
This marked the third major sale in a week, totaling 1.25 million shares and netting approximately $243 million. The sales coincided with a 20.4% single-day surge in CRCL’s price, closing at $240.30—up 248% from its $69 opening price on June 5.
ARK Still Holds $750M in Circle Shares
Despite the sell-off, ARK retains a significant position in Circle. As of June 20, its remaining stake was valued at $750.4 million, with CRCL becoming the top holding in the ARKW fund, accounting for 7.8% of its portfolio.
According to Bloomberg Terminal data, ARK remains the eighth-largest Circle shareholder. The top holders include:
- IDG-Accel China Capital Fund II – 23.3M shares
- General Catalyst Group Management – 20.1M shares
- James Breyer – 16.7M shares
Why Is ARK Selling Circle Shares?
ARK’s selling spree suggests a profit-taking strategy following Circle’s explosive rally. The stock’s rapid ascent—fueled by strong investor interest in stablecoins and blockchain financial infrastructure—presented an opportunity for ARK to lock in gains.
However, the continued holding indicates long-term confidence in Circle’s role in the digital asset ecosystem, particularly as stablecoin adoption grows. Circle CEO Jeremy Allaire has predicted that stablecoins will soon have their “iPhone moment”, signaling mass-market breakthrough potential.
Market Reaction & Future Outlook
Circle’s stock performance highlights strong investor optimism around regulated crypto-related financial services. While ARK’s sales may introduce short-term volatility, the company’s remaining stake suggests it still sees upside potential.
For investors, ARK’s moves underscore the importance of balancing profit-taking with long-term conviction in high-growth sectors like blockchain and fintech.
Key Takeaways
- ARK Invest sold $146M in Circle shares amid a 250% price surge.
- Still holds $750M in CRCL, remaining the eighth-largest shareholder.
- Profit-taking likely driving sales, but long-term position remains strong.
- Circle’s growth reflects rising institutional interest in stablecoins.
For more updates on crypto markets and blockchain investments, follow our latest insights.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.