Cathie Wood’s ARK Invest has continued trimming its Circle (CRCL) position, selling 609,175 shares for $146.2 million as the stock keeps climbing.
This came after CRCL stock jumped 20.4% that day, closing at $240.30, up 248% from its $69 debut on June 5. This was ARK’s third sale of Circle stock last week, with a total of 1.25 million shares sold for around $243 million.
The shares were sold from three of ARK’s ETFs: ARKK (ARK Innovation): 490,549 shares, ARKW (Next Gen Internet): 75,018 shares, and ARKF (Fintech Innovation): 43,608 shares.
ARK has been selling about 300,000 Circle shares each day. Earlier in the week, it sold $52 million worth of shares on Monday and $45 million on Tuesday.
ARK Still Holds Big Circle Stake
ARK Invest has sold almost 29% of the 4.49 million Circle (CRCL) shares it bought during the company’s public launch on June 5. Despite this, ARK is still one of the top investors.
As of June 20, ARK is the eighth-largest Circle shareholder. The biggest holders are IDG-Accel China Capital Fund II (23.3 million shares), General Catalyst (20.1 million shares), and James Breyer (16.7 million shares.
ARK Invest ranks as the eighth-largest holder of Circle shares. Source: Bloomberg
ARK still owns $750.4 million worth of CRCL shares. It’s also the largest holding in ARK’s ARKW fund, making up 7.8% of the portfolio.
Circle’s Stock Surge Sparks Interest in Crypto IPOs
Circle’s stock jumped to four times its $31 IPO price just days after listing on the NYSE. This big rise has caught the attention of the crypto industry, with many seeing it as a sign that more digital asset firms may go public soon.
While companies like FalconX and Gemini haven’t announced plans, analysts think Circle’s success could push them to consider IPOs. The SEC is already reviewing several confidential filings, showing growing interest behind the scenes.
Investors have reacted well, especially in the stock market, where there’s growing excitement about future IPOs from big names like Kraken and Bithumb. Circle’s strong debut shows crypto firms can attract serious investors and may open the door to more public listings.
