ARK Invest Sells 342,658 Circle Shares for $52 Million

ARK Invest, the asset management firm led by Cathie Wood, has sold its first batch of Circle shares, totaling 342,658 shares, for approximately $52 million. This move comes just 11 days after Circle's public debut on the New York Stock Exchange. The sale marks the first time ARK has divested any of its Circle shares since the company began trading publicly.

ARK Invest initially acquired 4.49 million shares of Circle common stock on the first day of trading, valued at $373.4 million at the closing price. Despite the recent sale, Circle remains one of ARK's top holdings across its three funds: the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF). ARKK, the largest of the three funds with assets under management of $5.6 billion, holds the largest position in Circle shares, valued at $387.7 million, which accounts for roughly 6.6% of its total assets. Circle is the fifth-largest asset in the ARKK fund, with a weight of 6.55%. ARKW holds $124 million in Circle shares, representing 6.7% of its total assets, while ARKF, the smallest fund in terms of assets under management, holds $72 million in Circle shares, or 6.7% of its assets.

ARK Invest was among the early investors that expressed interest in purchasing up to $150 million in Circle shares before its public launch. The firm increased its purchase volume in response to multiple initial public offering upsizings due to high investor demand. On June 9, ARK's research associates highlighted the success of Circle's initial public offering, noting that stablecoins have seen a shift in public perception within the crypto industry. They applied Hernando de Soto’s framework, stating that stablecoins are advancing the property rights revolution initiated by Bitcoin. According to the analysts, Bitcoin made financial property rights possible with smartphones, while stablecoins offer a less volatile asset with more utility across various blockchains and financial platforms.

Cathie Wood, the founder and CEO of ARK Invest, is well-known for her bullish stance on Bitcoin. In February 2025, she predicted that Bitcoin could reach $1.5 million by 2030, citing rising institutional adoption and growing demand for BTC as an asset class. The recent sale of Circle shares by ARK Invest does not necessarily indicate a change in sentiment towards the company or the broader crypto industry. Instead, it may reflect a strategic decision to realize profits from a successful investment while maintaining a significant position in Circle shares across its funds.