tl;dr
Cathie Wood's Ark Invest has sold nearly $100 million worth of Circle (CRCL) shares over two days, liquidating 642,766 shares amid a market pullback. On June 17, Ark sold 300,108 CRCL shares across three ETFs, totaling approximately $44.7 million. The largest sale was from the ARK Innovation ETF. Ci...
Cathie Wood's Ark Invest has sold nearly $100 million worth of Circle (CRCL) shares over two days amid a market pullback for the stablecoin issuer. On June 17, Ark sold 300,108 CRCL shares across three of its ETFs, totaling approximately $44.7 million, with the largest sale coming from the ARK Innovation ETF. This sale was part of a broader liquidation of 642,766 shares over 48 hours.
Circle's share price experienced a slight decline of 1.2% on June 17, closing at $149.15, marking its first dip since debuting on the New York Stock Exchange earlier this month. However, pre-market data showed a 3.43% recovery, signaling renewed investor confidence despite the pullback.
The sales highlight a strategic shift for Ark Invest as Circle’s bullish trajectory cools amidst broader market changes. The firm distributed shares among its ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF), reflecting a diversified approach to managing its exposure.
These developments coincide with ongoing fluctuations in the cryptocurrency markets, where stablecoins such as USDC and other digital assets continue to experience dynamic trading volumes and investor interest. Industry analysts remain attentive to the evolving regulatory landscape and market sentiment that influence these movements.
Investors are reminded that trading cryptocurrencies carries high risk and should be approached with careful due diligence. Ark Invest’s recent moves offer a lens into institutional strategies within the stablecoin sector, underscoring the importance of monitoring market signals and sector-specific trends.