Cathie Wood’s ARK Invest Sells $100M in Circle Shares Days After IPO Support
ARK Invest sells nearly $100 million in Circle shares shortly after IPO support, amid stablecoin regulation momentum.
Cathie Wood’s ARK Invest has sold nearly $100 million worth of Circle (CRCL) shares in just two days, signaling a strategic shift just weeks after the stablecoin issuer's high-profile IPO on the New York Stock Exchange.
According to ARK’s trade disclosures, the investment firm offloaded a total of 642,766 shares, netting approximately $96.5 million. The sales were split across ARK’s flagship ETFs: the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF). On Monday, ARK sold $51.7 million in shares, followed by another $44.7 million on Tuesday.
The move represents roughly 14% of ARK’s original stake in Circle, having acquired 4.49 million shares for $373.4 million during Circle’s June 5 IPO. Despite the sell-off, Circle stock has remained resilient—closing at $149.15 on Tuesday, down slightly from Monday’s $165, yet still trading significantly above its IPO price of $31.
ARK’s timing coincides with regulatory tailwinds. On Tuesday, the U.S. Senate passed the GENIUS Act, establishing a federal framework for stablecoin oversight. The legislation pushed CRCL shares up nearly 3% in after-hours trading, suggesting investor optimism around Circle’s positioning in a regulated environment.
While ARK has taken profits, no other major stakeholders have disclosed similar moves. BlackRock, which reportedly targeted a 10% stake in the IPO, has not reported any sales. Circle CEO Jeremy Allaire is expected to sell 1.58 million shares—around 8% of his holdings—and other executives have filed to reduce their stakes as well.
The sale doesn’t necessarily reflect a loss of confidence. ARK is known for its agile, high-conviction strategies in volatile tech and crypto markets. Wood, a prominent voice in digital asset investing, recently reiterated her forecast that Bitcoin could reach $1.5 million by 2030.
Circle remains central to crypto’s regulated finance narrative. As the issuer of USDC, it is key to blockchain-based payments infrastructure. Its public listing is viewed as a major step toward mainstream crypto adoption.
