ARK Sells Circle Shares for $52M
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ARK Invest Takes Profit from Circle Shares
ARK Invest, a prominent asset manager known for its blockchain-friendly stance, has sold $51.7 million worth of Circle shares, marking its first profit from the stablecoin issuer since its public launch on June 5. This move comes after ARK acquired 4.49 million Circle shares on the first day of trading, valued at $373.4 million at the closing price.
Circle Shares Performance
The sale of 342,658 Circle shares is a significant development, given that Circle remains one of ARK’s top holdings across its three funds: ARK Innovation ETF (ARKK), ARK Next Generation internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). Despite the sale, Circle shares have seen a massive rise, surging past $164 on June 16, and are up around 118% since launch, closing at $151 yesterday.
ARK’s Investment Strategy
ARK Invest founder and CEO Cathie Wood is known for her bullish stance on Bitcoin (BTC). In February 2025, she predicted that Bitcoin (BTC) may reach $1.5 million by 2030 amid rising institutional adoption and growing demand for Bitcoin (BTC) as an asset class. ARK’s investment in Circle shares is a testament to its confidence in the stablecoin market and its potential for growth.
Market Impact
The success of Circle’s initial public offering has highlighted a shift in public perception of the crypto industry, with stablecoins playing a crucial role in advancing the cause of financial property rights. As the market continues to evolve, retail investors are likely to take notice of the potential for stablecoins to provide a less volatile asset with more utility across Ethereum (ETH) and other financial platforms.
In a broader market context, ARK’s move to take profit from Circle shares may be seen as a strategic decision to rebalance its portfolio and capitalize on the recent surge in Circle’s stock price. This development may also spark interest among retail investors, who are looking to diversify their portfolios and tap into the growing potential of the stablecoin market. As the crypto industry continues to mature, it will be interesting to see how investors respond to the evolving landscape and the opportunities that arise from it. With the rise of stablecoins and the growing demand for Bitcoin (BTC), one thing is clear: the crypto market is poised for significant growth, and investors are taking notice.
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