ARK Invest, led by Bitcoin advocate Cathie Wood, has sold nearly $100 million worth of shares in Circle, the issuer of the USDC stablecoin, over two days. On Tuesday, ARK offloaded 300,108 shares for $44.7 million, coinciding with a 1.3% drop in Circle's stock price, which closed at $149 after reaching over $165 the previous day. This sale occurred despite the US Senate's recent approval of the GENIUS stablecoin bill. The transactions involved three ARK funds: the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). In total, ARK has sold 642,766 Circle shares for approximately $96.5 million, representing about 14% of its initial 4.49 million share purchase during Circle's public launch. Other major investors, including BlackRock, have not reported any sales of Circle shares. Circle's CEO Jeremy Allaire and other executives are also selling portions of their stakes in the company. Read more AI-generated news on: https://app.chaingpt.org/news

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