Cathie Wood’s ARK Invest has continued to sell Circle (CRCL) shares following a large transaction last week. The asset manager offloaded another significant portion of the stablecoin company’s stock.
According to a regulatory filing reviewed by Cointelegraph, ARK sold 415,844 Circle shares worth $109.6 million on Monday. This marked ARK’s fourth sale of Circle stock since commencing its selling program on June 16 – just eleven days after Circle began trading on the New York Stock Exchange (NYSE).
Accelerated Selling Pattern
The latest sale brings ARK’s total Circle shares sold since June 5 to approximately 1.7 million shares, realized for about $243 million. This amount represents roughly 37% of the nearly 4.6 million shares ARK acquired in their initial purchase.
Asset Distribution Across Funds
Monday’s transactions originated from ARK’s three prominent exchange-traded funds: the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
ARKK, with approximately $5.6 billion in assets under management (AUM), disposed of 306,921 Circle shares. As of Tuesday’s close, the fund retains around 1.7 million shares in Circle, representing approximately 6.8% of its assets.
The smaller funds saw more modest reductions: ARKW sold 72,302 shares, leaving 625,645 shares outstanding. ARKF offloaded 36,621 shares, resulting in 369,128 remaining shares. ARKW and ARKF held a combined 994,773 Circle shares.
Collectively, ARK’s funds hold approximately 2.6 million shares of Circle. Based on Monday’s closing price of $263.40, these remaining shares are valued at roughly $69.9 million.
Circle Stock Performance and Market Positioning
ARK’s latest sales coincided with a significant rise in Circle’s stock price. NYSE data showed CRCL briefly trading above $299 during the week.
The stock’s appreciation contributed to an increase in Circle’s market capitalization. As of CompaniesMarketCap data, Circle Internet Group ranks as the 324th largest publicly traded company globally, valued at $63.9 billion.
Despite the growth, Circle has yet to surpass the market value of its own USDC stablecoin. Sources like CoinGecko estimate the market cap of Circle (CRCL) at approximately $61.7 billion, slightly below USDC’s valuation.
