Ark Investment Management, led by Cathie Wood, sells Circle shares worth $238.2 million within a week after a significant price increase.

Unleashing the News!

Hey there, crypto enthusiasts! Today, we're diving into the world of finance and digital assets with a fascinating update. ARK Invest, the brainchild of the tech-savvy Cathie Wood, is shaking up the crypto market by offloading a whopping $238.2 million worth of Circle's shares (CRCL). Why, you ask? Well, it seems those shares have seen a major boost in value, and ARK is cashing in to boost their positions in other exciting investments like Coinbase (COIN) and Robinhood (HOOD)!

Circle's shares made a splash when they debuted on the New York Stock Exchange (NYSE) on June 5th, 2025, after four long years. On its opening day, CRCL skyrocketed from $69 to $103 before pulling back and closing at $83. And it hasn't looked back since, reaching an all-time high of $248 last week!

The momentum behind CRCL is no joke. This rapid growth is partly due to the US Senate passing the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) on June 23, 2025, with a resounding 68-30 vote. This legislation would provide a framework for stablecoin issuers, requiring them to have full asset backing, monthly reserve disclosures, and yearly audits if their market cap hits $50 billion.

ARK's decision to sell its shares isn't a sign of a negative outlook on Circle but a strategic move to capitalize on the profits they've made from their early investment. So, while ARK sold a considerable chunk of its shares, they still hold a significant stake of 2.8 million shares.

But, hey! The crypto world doesn't stand still, and market volatility is the name of the game. Let's keep our eyes peeled for more updates and investing opportunities in the realm of bitcoin, ethereum, altcoins, and all things crypto!

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Disclaimer:Opinions expressed here are not investment advice. Before making any investment decisions, make sure to do your due diligence.

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Ark Investment Management, led by Cathie Wood, sells Circle shares worth $238.2 million within a week after a significant price increase.