ARK Invest Nets $243M Selling Circle Stock as CRCL Market Cap Nears USDC Issuance
Over three trading days (June 16, 17 and 20), Cathie Wood’s ARK Invest sold a total of 1.25 million shares of Circle (CRCL), raising $243 million as the stock soared amid a broader crypto rally. Circle’s share price climbed 125% in five sessions, peaking near $250 and closing at $240.28, pushing its market capitalization past $58 billion—about 95% of USDC’s $61 billion stablecoin issuance. Post-sale, ARK’s original CRCL holdings shrank by nearly 29%, though it still holds roughly 3.2 million shares (worth $750 million), ranking eighth among Circle’s top shareholders and remaining the largest position in the ARK W fund. Analysts view ARK’s sell-off as profit-taking and risk diversification, noting reallocations into tech names like AMD, TSMC and Shopify.
Neutral
ARK Invest’s partial sell-off of CRCL shares amid a sharp rally signals profit-taking rather than a fundamental loss of confidence. While Circle’s market cap nearing USDC issuance underscores the issuer’s strength, sizeable insider sales can create short-term volatility. Historically, large institutional profit-taking during rapid price surges leads to a temporary pullback, but long-term prospects remain intact if fundamentals hold. Traders should monitor post-sale price action for consolidation or rebound opportunities.