ARK Invest Sells 609K Circle Shares, Nets $243M After Three Sales
On June 20, ARK Invest sold 609,175 shares of Circle (CRCL) stock across three of its ETFs—ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Fintech Innovation (ARKF). The sale, valued at $146.2 million, came as Circle stock surged 20.4% that day, closing at $240.30. This marks the third sale in one week, bringing the total divested to 1.25 million Circle shares and netting approximately $243 million in profits. ARK Invest’s repeated profit-taking highlights strong performance in the Circle stock since its NYSE debut at $69 on June 5, when it has jumped nearly 250%.
Neutral
The sale of Circle stock by ARK Invest represents profit-taking rather than a bearish signal for the broader cryptocurrency market. While Circle is a key player in the stablecoin sector (USDC issuer), this move reflects institutional rebalancing after a sharp post-IPO rally. Similar profit-taking events—such as major funds selling high-performing tech stocks—have had neutral market effects, as profits are often redeployed rather than exiting entirely. In the short term, this may create mild selling pressure on CRCL shares, but long-term confidence in Circle’s core business and USDC adoption remains intact, keeping broader crypto sentiment steady.