Cathie Wood's Ark Invest has divested 342,658 shares of Circle Internet Group Inc. in its three ETFs, worth approximately $51.7 million, as shares of the stablecoin issuer hit a new record high amid investor interest.
Ark Invest Sells Circle Shares for $51.7 Million as Stock Reaches Record Levels
According to the company's latest trading announcement made on Monday:
The ARK Innovation ETF sold 196,367 shares (ARKK).
ARK Next Generation Internet ETF (ARKW) sold 92.310 shares.
The ARK Fintech Innovation ETF (ARKF) sold 53,981 shares.
This move came after Circle's shares rose to $165.60 during the day, according to Yahoo Finance data, closing the day at a record high of $151.06, nearly five times the IPO price of $31 earlier this month, with an increase of 13.1%.
The sale of Ark occurred following its significant investment in Circle during the company's $1.1 billion major IPO. It was reported that Ark purchased $373.4 million worth of CRCL shares in this IPO. The strategic cut shows that while Ark benefited from the recent rally, it still maintains a significant position in the stablecoin leader.
Circle, the issuer of USDC, the second-largest stablecoin pegged to the U.S. dollar after Tether's USDT, continues to benefit from the growing market interest in the tokenized dollar.
This momentum is also supported by regulatory factors, such as the fact that the GENIUS Act, an important bill related to stablecoin, will be voted on in the Senate.
Circle CEO Jeremy Allaire, commenting on the outlook of the sector, stated on social media that the market has not yet reached a turning point:
"We haven't yet reached the iPhone moment, where developers everywhere are realizing the power and opportunities of programmable digital dollars on the Internet... Soon."
With the strengthening of political support and the vibrancy of investor sentiment, Circle and USDC are increasingly seen as important players in the evolution of digital finance.
*It is not investment advice.
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Cathie Wood's Ark Invest Company Disposes of Millions of Dollars of Shares of Stablecoin Giant Circle! Here are the details
Cathie Wood's Ark Invest has divested 342,658 shares of Circle Internet Group Inc. in its three ETFs, worth approximately $51.7 million, as shares of the stablecoin issuer hit a new record high amid investor interest.
Ark Invest Sells Circle Shares for $51.7 Million as Stock Reaches Record Levels
According to the company's latest trading announcement made on Monday:
The ARK Innovation ETF sold 196,367 shares (ARKK).
ARK Next Generation Internet ETF (ARKW) sold 92.310 shares.
The ARK Fintech Innovation ETF (ARKF) sold 53,981 shares.
This move came after Circle's shares rose to $165.60 during the day, according to Yahoo Finance data, closing the day at a record high of $151.06, nearly five times the IPO price of $31 earlier this month, with an increase of 13.1%.
The sale of Ark occurred following its significant investment in Circle during the company's $1.1 billion major IPO. It was reported that Ark purchased $373.4 million worth of CRCL shares in this IPO. The strategic cut shows that while Ark benefited from the recent rally, it still maintains a significant position in the stablecoin leader.
Circle, the issuer of USDC, the second-largest stablecoin pegged to the U.S. dollar after Tether's USDT, continues to benefit from the growing market interest in the tokenized dollar.
This momentum is also supported by regulatory factors, such as the fact that the GENIUS Act, an important bill related to stablecoin, will be voted on in the Senate.
Circle CEO Jeremy Allaire, commenting on the outlook of the sector, stated on social media that the market has not yet reached a turning point:
"We haven't yet reached the iPhone moment, where developers everywhere are realizing the power and opportunities of programmable digital dollars on the Internet... Soon."
With the strengthening of political support and the vibrancy of investor sentiment, Circle and USDC are increasingly seen as important players in the evolution of digital finance.
*It is not investment advice.
Follow our Telegram group, Twitter account and Youtube channel for exclusive news, analysis and on-chain data! Also, download our Android and IOS Apps and start live price tracking right away!