Ark Invest offloads $44.8 million worth of Circle shares one day after $51.7 million divestment
Quick Take
- Cathie Wood’s Ark Invest sold $44.76 million worth of Circle shares across three of its ETFs on Tuesday.
- That follows its $51.7 million sell-off of Circle shares on Monday.
Cathie Wood's Ark Invest offloaded an additional $44.76 million in Circle Internet Group Inc. shares (CRCL) following a $51.7 million sale the previous day, as the stablecoin issuer's stock maintained a strong position well above its recent IPO price.
Three of Ark Invest's exchange-traded funds sold the shares on Tuesday, according to its latest filing. The ARK Innovation ETF (ARKK) shed 208,654 Circle shares, while the ARK Next Generation Internet ETF (ARKW) sold 65,320. The ARK Fintech innovation ETF (ARKF) also divested 26,134 shares of the stablecoin issuer.
CRCL closed down 1.26% at $149.15 on Tuesday, but gained 2.84% in after-hours trading, according to Yahoo Finance data. It remained significantly above its IPO price of $31.
Ark Invest bought $373.4 million worth of shares at Circle's New York Stock Exchange debut earlier this month.
Meanwhile, traders are closely monitoring how CRCL responds to recent developments in the GENIUS Act, a landmark stablecoin bill in the U.S. Earlier on Tuesday, the Senate passed the legislation, moving the bill to the House of Representatives for further discussion and voting.
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