Cathie Wood’s Ark Invest Cashes Out $51.7M in Circle Shares
Ark Invest, led by Cathie Wood, unloaded over 342,000 shares of Circle Internet Group Inc. across three of its ETFs on Monday.
According to information, shared by The Block, the total value of the sale came to approximately $51.7 million, following a sharp rally in Circle’s stock.
Circle Hits All-Time High, Triggers Profit-Taking
Circle’s stock (CRCL) soared to a new intraday peak of $165.6, before closing at $151.06, marking a 13.1% gain for the day. That price represents a nearly fivefold jump from its $31 IPO earlier this month, according to Yahoo Finance.
Ark seized the opportunity to take profits. The ARK Innovation ETF (ARKK) sold 196,367 shares, while ARK Next Generation Internet ETF (ARKW) shed 92,310 shares. Meanwhile, the ARK Fintech Innovation ETF (ARKF) offloaded another 53,981 shares of the stablecoin issuer.
Ark Invest Adjusts After $373M Circle Buy-In
Earlier this month, Ark had aggressively backed Circle, scooping up roughly $373.4 million worth of shares during its $1.1 billion NYSE IPO. Monday’s sizable sell-off appears to be a tactical adjustment following Circle’s meteoric rise.
Circle, best known for issuing the USDC stablecoin, has quickly become a high-profile public crypto company, with Ark positioning itself as one of its earliest large institutional backers.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
