Ark Invest offloads $110 million worth of Circle shares amid continued post-IPO surge
Quick Take
- Ark Invest sold 415,844 Circle shares on Monday, worth $109.6 million.
- Circle’s stock closed up 9.6% at $263.45, well above its IPO price of $31.
Cathie Wood's Ark Invest offloaded $109.6 million worth of Circle shares across three of its exchange-traded funds on Monday, as the stock continued to surge following its initial public offering.
Ark Invest sold a total of 415,844 shares of Circle today, according to its latest trade filing. The ARK Innovation ETF (ARKK) shed 306,921 Circle shares, while the ARK Next Generation Internet ETF (ARKW) sold 72,302. The ARK Fintech innovation ETF (ARKF) also divested 36,621 shares of the stablecoin issuer.
Circle's stock, traded under ticker CRCL, rallied for a third day in a row, closing up 9.6% at $263.45 on Monday and gaining another 2.7% in after-hours trading, according to Yahoo Finance data. Its market capitalization reached $68.9 billion, at one point surpassing those of both Coinbase and USDC recorded on the same day.
Ark Invest's latest profit-taking follows its purchase of 4,486,560 Circle shares during the stablecoin issuer's New York Stock Exchange debut on June 5. Circle entered the public market with an upsized $1.1 billion initial public offering at $31 per share, meaning the stock has generated a nearly 600% return for investors.
Circle's stock price received a boost over the past week after the U.S. Senate passed a landmark stablecoin bill — the GENIUS Act — and handed it over to the House of Representatives for further consideration. President Donald Trump has urged the House to advance the bill swiftly and "get it to my desk" as soon as possible.
Also on Monday, Ark Invest's ARKK purchased 319,640 shares of Robinhood worth about $24.4 million, while ARKW and ARKF together bought 4,198 shares of Coinbase valued at roughly $1.3 million.
The Nasdaq Composite closed up 0.94% today, while the Dow Jones Industrial Average added 0.89%.
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