$USDC ARK Invest Sells $45M in Circle Shares Following Senate Passage of GENIUS Act

ARK Invest has recently sold nearly $45 million worth of Circle (CRCL) shares, marking a significant shift in its investment strategy. This move comes shortly after the U.S. Senate's passage of the GENIUS Act, a landmark piece of legislation aimed at regulating stable coins like Circle's USDC.

The GENIUS Act establishes a comprehensive regulatory framework for stablecoins, including reserve requirements and oversight by federal agencies. Circle's IPO, which raised over $1 billion, was notably supported by institutional investors such as ARK Invest and BlackRock, signaling strong confidence in the company's future.

ARK's decision to divest from Circle may reflect a strategic reallocation of assets or a response to market dynamics post-IPO. This development underscores the evolving landscape of cryptocurrency investments and regulatory environments.