ARK Invest, led by Cathie Wood, reduced its holdings in Circle, the stablecoin issuer, through its three funds on Monday, cashing out approximately $51.7 million. On that day, Circle's stock price hit an all-time high, rising 13.1%.
According to the company's latest trading documents, ARK Invest sold a total of 342,658 shares of Circle stock, with the 'ARK Innovation ETF' (ARKK) selling 196,367 shares; the 'ARK Next Generation Internet ETF' (ARKW) selling 92,310 shares; and the 'ARK Fintech Innovation ETF' (ARKF) selling 53,981 shares.
Yahoo Finance data shows that Circle's stock (ticker CRCL) soared to a high of $165.6 during Monday's trading session, then pulled back, ultimately closing up 13.1% at $151.06, nearly five times its $31 IPO price.
Earlier this month, ARK Invest purchased $373.4 million worth of Circle stock when it went public on the New York Stock Exchange. The stablecoin issuer raised up to $1.1 billion in its IPO.
The USDC issued by Circle is currently the second-largest dollar stablecoin, second only to Tether's USDT. Market sentiment for stablecoin investments remains high, partly driven by the US (GENIUS Act). This key stablecoin regulatory bill is set for a final vote in the Senate this Tuesday.
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