Ark Invest has completed the sale of a significant volume of Circle shares worth $109.6 million. This decision follows the ongoing rise in the company's stock after its initial public offering.
Details of the Sale of Circle Shares
Ark Invest sold 415,844 shares of Circle, distributed across three of its exchange-traded funds. Specifically, the ARK Innovation ETF (ARKK) offloaded 306,921 shares, while the ARK Next Generation Internet ETF (ARKW) sold 72,302 shares, and ARK Fintech Innovation ETF (ARKF) divested 36,621 shares.
Circle's Stock Surge After IPO
Circle's stock closed at $263.45, up 9.6% compared to previous days, and gained another 2.7% in after-hours trading. The initial stock price at the public debut was $31, indicating a nearly 600% return for investors.
Market Impact of Recent News
The rise in Circle's stock has been bolstered by the recent passage of a stablecoin bill by the U.S. Senate, now sent to the House of Representatives. President Donald Trump has urged the House to expedite the legislation.
The sale of shares by Ark Invest and the rising prices of Circle's stock reflect market activity and interest in the stablecoin sector. Expectations surrounding the stablecoin bill are also contributing to investor interest.
