Cathie Wood’s Ark Invest Sells $109.6 Million in Circle Shares Amid 9.6% Stock Surge

Cathie Wood’s Ark Invest has sold off $109.6 million worth of Circle shares, capitalizing on the stablecoin issuer’s continued stock surge following its highly anticipated IPO earlier this month. The firm’s latest trade filing revealed that 415,844 shares of Circle were offloaded across three of Ark’s ETFs on Monday. Specifically, 306,921 shares were sold from the ARK Innovation ETF, 72,302 shares from the ARK Next Generation Internet ETF, and 36,621 shares from the ARK Fintech Innovation ETF.

The timing of the sale coincided with Circle’s third consecutive day of gains, closing Monday up 9.6% at $263.45, with an additional 2.7% gain in after-hours trading. Circle’s market capitalization soared past $68.9 billion, briefly overtaking Coinbase and USDC’s circulating market cap. Circle made its public debut on the New York Stock Exchange on June 5, launching with an upsized $1.1 billion IPO priced at just $31 per share. Since then, the stock has surged nearly 600%, delivering staggering returns to early investors, including Ark Invest, which had previously bought 4.48 million shares on listing day.

Much of Circle’s stock momentum in recent days is attributed to regulatory tailwinds. The U.S. Senate passed the GENIUS Act, a landmark stablecoin framework bill, now under review by the House of Representatives. President Donald Trump publicly urged lawmakers to accelerate the bill’s passage, stating he wants it on his desk “as soon as possible.” The act is seen as a green light for stablecoin issuers and has boosted sentiment across the crypto sector.

Even as Ark exited a large portion of its Circle position, it reallocated capital into other fintech stocks. ARKK acquired 319,640 shares of Robinhood, worth $24.4 million, while ARKW and ARKF bought 4,198 shares of Coinbase, valued at approximately $1.3 million. Both Robinhood and Coinbase have seen heightened investor interest amid the broader crypto market recovery and IPO momentum.

Ark Invest’s selloff may represent a classic case of profit-taking after parabolic gains, but it also reflects a broader sector bet on regulated digital finance infrastructure. While Ark reduces exposure to Circle after a historic IPO performance, its positions in Robinhood and Coinbase suggest ongoing confidence in platforms driving crypto adoption at scale. The sale of Circle shares by Ark Invest is a significant development in the crypto market, reflecting the firm's strategic approach to investing and its confidence in the long-term potential of stablecoins. The move also highlights the impact of regulatory developments on the crypto market, as investors closely monitor the progress of the stablecoin bill and its potential implications for the industry.