Circle Stock Plunges 5.92% as ARK Invest Sells Shares

On June 24, 2025, Circle's stock experienced a significant drop of 5.92% in pre-market trading, reflecting a notable shift in investor sentiment.

ARK Invest, a prominent investment firm led by Cathie Wood, has been actively reducing its holdings in Circle. The firm's flagship fund, the ARK Innovation ETF, sold approximately 495,000 shares, decreasing its portfolio allocation by about 1.8%. This move follows a series of large-scale sales, including the offloading of 415,844 shares and another batch worth $243 million, indicating a strategic decision to take profits after a substantial surge in Circle's stock price.

Despite Circle's recent market capitalization gains, which have brought it closer to major players like Robinhood and Coinbase, ARK Invest's actions suggest a cautious approach. The firm's repeated sales of Circle shares, totaling millions of dollars, highlight a shift in investment strategy, potentially influenced by market volatility or internal portfolio rebalancing.