Coin World reported on June 17 that Ark Invest, led by Cathie Wood, reduced its holdings in stablecoin USDC issuer Circle (CRCL) by a total of 342,658 shares, cashing out approximately $51.7 million. This sale occurred as CRCL's stock price reached a new high, closing at $151.06, nearly five times the IPO price of $31. Circle has recently been favored by investors due to the growth of USDC and the positive impact of the GENIUS Act.