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Cathie Wood’s Ark Invest Sells $109M in Circle Shares

  • Ark Invest recently sold $109 million worth of Circle shares, unloading a total of 415,844 shares on Monday.
  • The sale included shares from ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
  • Circle's stock price rose by 9.6% to $263.45 and continued to gain in after-hours trading.
  • Investor enthusiasm over Circle's role in stablecoin and tokenized finance ecosystem contributed to its stock rally.
  • Ark Invest's decision to sell shares may indicate a strategic move after recent sharp gains.
  • The firm, known for supporting crypto equities, often rebalances its positions after significant rallies.
  • Circle's stock price is now well above its IPO price, possibly prompting caution from Ark Invest.
  • While Ark Invest sold shares, sentiment around stablecoin infrastructure remains positive.

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