Cathie Wood's Ark Invest has sold 342,658 shares of Circle Internet Group Inc. worth approximately $51.7 million across three ETFs. This move follows a broader trend of increasing interest in the company’s stock.
Ark Invest's Share Sale
According to the company's latest trading report, the ARK Innovation ETF (ARKK) sold 196,367 shares, ARK Next Generation Internet ETF (ARKW) sold 92,310 shares, and ARK Fintech Innovation ETF (ARKF) sold 53,981 shares. This sale comes after Ark’s substantial investment in Circle during its major $1.1 billion IPO, where it reportedly purchased $373.4 million worth of shares.
Circle's Stock Price Surge
Circle's shares (CRCL) reached an intraday high of $165.60 before closing up 13.1% at a record $151.06, nearly five times its $31 IPO price earlier this month. This price movement reflects growing investor interest in the company and its offerings.
Legislative Impact on the Stablecoin Market
Regulatory factors are also supporting this momentum, particularly the upcoming Senate vote on the GENIUS Act, a key stablecoin-related bill. Circle CEO Jeremy Allaire commented on the industry outlook, stating, 'We have not yet reached the iPhone moment when developers everywhere realize the power and opportunities of programmable digital dollars on the Internet… It will come soon.'
With policy support strengthening and investor sentiment buoyant, Circle and USDC are increasingly recognized as significant players in the evolution of digital finance.
