Catenaa, Sunday, June 29, 2025- Cathie Wood’s Ark Invest has sold nearly $110 million worth of Circle shares as the stablecoin issuer’s stock continued its post-IPO rally.
The firm unloaded 415,844 shares across three of its ETFs on Monday, according to trade filings released late evening.
The ARK Innovation ETF (ARKK) accounted for the bulk of the divestment, shedding over 306,000 shares. ARKW and ARKF also sold 72,302 and 36,621 shares respectively.
Despite the sell-off, Circle’s stock closed up 9.6% at $263.45 and gained another 2.7% in after-hours trading, lifting its market cap to $68.9 billion—surpassing Coinbase and even USDC’s valuation on the same day.
Ark’s sale comes just weeks after the firm acquired more than 4.4 million Circle shares during its June 5 public debut. The crypto firm’s IPO was priced at $31 per share, meaning the investment has returned nearly 600% for early stakeholders.
The stock’s recent momentum was bolstered by Senate approval of the GENIUS Act, a regulatory bill aimed at governing stablecoins. President Donald Trump urged the House to move quickly, calling for the legislation to land on his desk.
Ark simultaneously picked up 319,640 Robinhood shares and 4,198 shares of Coinbase on Monday, suggesting continued bullish sentiment on fintech stocks.
