$USDC The company sold 300,108 shares of CRCL across three of its exchange-traded funds, realizing profits after the recent surge in the stock following the initial public offering.
CRCL shares closed at $149.15 in New York, maintaining their momentum since their launch earlier this month.
Regulatory Win for Circle
The GENIUS Act, which Jeremy Allaire, CEO of Circle, praised and referred to as a "brilliant" step, provides a regulatory framework for stablecoin issuers in the United States – a development widely seen as positive for Circle and the broader cryptocurrency sector.
Despite the favorable legislation, Ark has reduced its investments in CRCL for the second consecutive day, suggesting a potential rotation strategy.
Ark is moving towards artificial intelligence and chips
As part of its investment redistribution, Ark has increased its investments in:
AMD, after the chipmaker's new artificial intelligence roadmap sparked renewed interest from investors.