According to The Block, Ark Invest sold 415,844 shares of Circle stock on Monday, worth $109.6 million.
Cathie Wood's Ark Invest sold $109.6 million worth of Circle stock on Monday through its three exchange-traded funds (ETFs), coinciding with the stock's continued rise since its initial public offering.
Latest trading disclosures show that Ark Invest sold a total of 415,844 shares of Circle stock today. Of these, the ARK Innovation ETF (ARKK) sold 306,921 shares of Circle stock, the ARK Next Generation Internet ETF (ARKW) sold 72,302 shares, and the ARK Fintech Innovation ETF (ARKF) reduced its holdings by 36,621 shares of the stablecoin issuer's stock.
According to Yahoo Finance data, Circle (ticker: CRCL) stock price rose for the third consecutive trading day, closing up 9.6% at $263.45 on Monday, and rising another 2.7% in after-hours trading, bringing its market capitalization to $68.9 billion, briefly surpassing the market cap of Coinbase and USDC recorded that day.
Ark Invest's profit-taking operation follows its purchase of 4,486,560 shares of Circle stock at the time of its listing on the New York Stock Exchange on June 5. Circle completed its high-profile $1.1 billion IPO at a price of $31 per share, which has since provided investors with nearly 600% returns.
In the past week, Circle's stock price was boosted after the U.S. Senate passed a landmark stablecoin bill—the (GENIUS Bill)—and submitted it to the House for further consideration. Reports indicate that President Trump also urged the House to expedite the bill, stating, 'Make sure it gets to my desk as soon as possible.'
Additionally, Ark Invest's ARKK purchased 319,640 shares of Robinhood stock on Monday, worth approximately $24.4 million; meanwhile, ARKW and ARKF collectively bought 4,198 shares of Coinbase stock, worth approximately $1.3 million.
On that day, the Nasdaq Composite Index rose 0.94%, while the Dow Jones Industrial Average rose 0.89%.
