ARK Invest, the crypto-focused investment firm led by Bitcoin advocate Cathie Wood, has continued its selloff of Circle shares, shedding nearly $100 million over two days.
On Tuesday, ARK sold an additional 300,108 shares of Circle—issuer of the USDC stablecoin—across three of its funds, bringing in $44.7 million, according to a trade notification reviewed by Cointelegraph.
The sale coincided with a 1.3% dip in Circle’s stock price, which closed at $149 after reaching a high of over $165 on Monday, based on TradingView data.
Interestingly, the stock’s decline came despite positive regulatory developments: the U.S. Senate passed the GENIUS stablecoin bill on Tuesday in a 68–30 vote, signaling growing legislative support for stablecoins.
ARK offloads 642,766 shares of Circle over two days
ARK’s latest stock sell-off involved three of its funds: the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). The largest of the three, ARKK, sold 208,654 shares of CRCL, while ARKW and ARKF offloaded 65,320 and 26,134 shares, respectively.
Over the past two days, ARK has sold a total of 642,766 Circle shares, valued at approximately $96.5 million. This divestment represents around 14% of the 4.49 million CRCL shares ARK acquired during Circle’s public debut on June 5, a purchase that cost the firm $373.4 million based on that day’s closing price.
Who are the other sellers?
So far, none of Circle’s other major public investors have reported selling CRCL shares aside from ARK. BlackRock, which was reportedly set to take a 10% stake in Circle’s IPO, has not disclosed any sales.
According to Circle’s IPO prospectus, CEO and co-founder Jeremy Allaire planned to sell around 8% of his stake, totaling 1.58 million shares. Co-founder and former CEO Sean Neville and CFO Jeremy Fox-Geen were also set to sell 684,083 and 178,991 shares, respectively—representing about 11% of their individual holdings.
ARK Invest founder and CEO Cathie Wood, a well-known Bitcoin bull, recently reaffirmed her bullish stance. In February 2025, she projected Bitcoin could hit $1.5 million by 2030, driven by rising institutional adoption and growing demand for BTC as a mainstream asset.
