Cathie Wood’s Ark Invest offloaded 300,108 shares of Circle Internet Group on Tuesday across three of its ETFs, marking the second consecutive day of profit-taking—this time totaling approximately $44.7 million.
The selloff came as Circle’s stock (CRCL) closed at $149.15 in New York, maintaining strong investor momentum following a significant rally in its early days of public trading earlier this month.
ARK’s move to trim its CRCL holdings coincided with a major regulatory development: the U.S. Senate’s bipartisan approval of the GENIUS Act, legislation aimed at regulating stablecoin issuers such as Circle.
The bill, seen as a positive step for the crypto industry, was publicly praised by Circle CEO Jeremy Allaire, who referred to it as a “genius” piece of legislation in a post on X.
According to an investor update, as Ark reduced its Circle exposure, it simultaneously increased its stakes in chipmaker AMD—viewed as an undervalued AI contender after unveiling its latest roadmap—and in Taiwan Semiconductor, a leading player in chip manufacturing.
