ARK Invest, the crypto-supportive asset management firm founded by noted Bitcoin advocate Cathie Wood, has begun taking profits from its investment in stablecoin issuer Circle just 11 days after the company went public.
According to a trade filing viewed by Cointelegraph, ARK sold 342,658 shares of Circle (CRCL) across three of its funds on Monday, totaling approximately $51.7 million.
This marks ARK’s first sale of CRCL shares since Circle began trading publicly on the New York Stock Exchange (NYSE) on June 5.
On the first day of trading, ARK purchased approximately 4.49 million shares of Circle common stock, valued at $373.4 million based on the closing price.
Circle Ranks Among ARK’s Top Holdings
Despite the recent sale, Circle remains one of ARK’s top holdings across all three of its funds: the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
ARKK—the largest of the three, managing $5.6 billion in assets—retains the biggest position in Circle (CRCL) shares, valued at approximately $387.7 million, which represents about 6.6% of the fund’s total assets.
ARKW holds $124 million worth of CRCL shares, making up 6.7% of its total assets—just behind Coinbase, which holds the top spot with a 6.8% weighting. Meanwhile, ARKF—the smallest of the three funds by assets under management—holds $72 million in CRCL shares, also representing 6.7% of its portfolio.
Circle shares have surged 118% since their market debut
ARK was one of the early backers that signaled interest in purchasing up to $150 million worth of Circle shares ahead of the company’s debut on the New York Stock Exchange. As investor demand surged and Circle upsized its IPO multiple times, ARK boosted its buying volume accordingly.
Circle began trading on the NYSE at $31 per share and has since experienced a remarkable rally, soaring past $164 on June 16, according to TradingView data. As of yesterday’s close, the stock was trading at $151—up roughly 118% since its launch.
On June 9, ARK’s research associates noted that the success of Circle’s initial public offering signaled a shift in public perception toward the crypto industry, particularly in regard to stablecoins.
“Using Hernando de Soto’s framework, stablecoins are advancing the property rights revolution that Bitcoin began,” the analysts wrote, adding:
“Bitcoin made financial property rights possible with smartphones. Stablecoins are advancing the cause with a less volatile asset and more utility across blockchains and financial platforms.”
ARK Invest founder and CEO Cathie Wood, a well-known Bitcoin bull, predicted in February 2025 that Bitcoin could soar to $1.5 million by 2030, citing increasing institutional adoption and rising demand for BTC as a distinct asset class.
