Cathie Wood's ARK Invest Sells Nearly $100M in Circle Shares But Continues to Back the Stablecoin Leader

ARK Invest, overseen by Cathie Wood, has sold another $44.76 million of shares in Circle Internet Group Inc. (CRCL), following a $51.7 million sale the day prior. The transactions involved ARK’s three exchange-traded funds (ETFs) - ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF). Despite the sell-offs, CRCL is still a top holding across all three ARK funds.

ARK began its involvement with Circle prior to its IPO, planning to purchase up to $150 million shares. Though ARK trimmed its exposure, the firm's research team remains optimistic about Circle's role in the financial system, citing its IPO as a sign of growing institutional confidence in stablecoins. ARK noted Circle's significant role in making U.S. dollars more accessible in regions with weak currencies or limited banking access via blockchain networks.