Bullish on Bitcoin, Cathie Wood's cryptocurrency-friendly investment firm ARK Invest continues to sell shares of USDC stablecoin issuer Circle, reducing its holdings by nearly $100 million in two days.
According to trading notifications obtained by Cointelegraph, ARK sold 300,108 shares of Circle stock worth $44.7 million from its three funds on Tuesday.
Trading data shows that Circle's stock price fell 1.3% that day, closing at $149, down from a peak of over $165 on Monday.
Notably, despite the positive news that the U.S. Senate passed the GENIUS stablecoin bill with a vote of 68 to 30 on Tuesday, Circle's stock price still failed to stop its decline.
ARK's latest round of stock sales involved its three funds: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
The largest fund, ARKK, sold 208,654 shares of CRCL stock, while ARKW and ARKF reduced their holdings by 65,320 shares and 26,134 shares, respectively.
In total, ARK has sold 642,766 shares of Circle stock over the past two days, with a total value of approximately $96.5 million.
The number of shares sold represents about 14% of the 4.49 million shares ARK purchased when Circle went public on June 5, for which the company initially invested $373.4 million based on that day's closing price.
Aside from ARK, it seems that no other major public investors in Circle have reported selling CRCL shares. BlackRock, which reportedly plans to hold a 10% stake in Circle's initial public offering (IPO), has not reported any reductions in CRCL shares to date.
The prospectus shows that Circle CEO Jeremy Allaire, who co-founded the company in 2013, plans to sell about 8% of his shares in the IPO, totaling 1.58 million shares. Co-founder and former CEO Sean Neville and CFO Jeremy Fox-King will sell 684,083 shares and 178,991 shares, respectively, representing 11% of their Circle holdings.
ARK Invest founder and CEO Wood has been seen as a major Bitcoin (BTC) bull. In February 2025, she predicted that due to increased institutional adoption and rising demand for BTC as an asset class, the price of Bitcoin could reach $1.5 million by 2030.
Related: JD.com joins the stablecoin competition in the U.S. with the GENIUS Act
Original article: “ARK Sell-off Continues: Cathie Wood's Funds Reduce Holdings by $45 Million, Stock Price Plummets”
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