Cathie Wood’s Ark Invest Offloads $110M in Circle Shares as Valuation Skyrockets—Robinhood Left in the Dust

Ark Invest makes another bold move—dumping $110 million worth of Circle shares just as the stablecoin issuer’s valuation eclipses Robinhood’s. Is this strategic foresight or another Wall Street game of hot potato?

The Great Unstable Coin Shuffle

Cathie Wood’s fund continues its exit from Circle, cashing out at peak valuation while retail traders scramble for crumbs. The timing? Impeccable—as always with institutional players.

Numbers Don’t Lie (But Bankers Do)

$110 million. That’s not just loose change—it’s a calculated retreat from a sector where ‘stable’ and ‘valuation surge’ now awkwardly share press releases. Meanwhile, Robinhood’s left holding the regulatory bag.

Closing Thought

When the crypto whales sneeze, the minnows catch colds. And right now, Wood’s Ark is sounding the alarm with a nine-figure sell-off—just don’t expect your broker to flag it as ‘investment advice.’

Circle’s rising valuation

The flurry of selling activity comes amid a stunning rally in Circle’s stock, which has propelled the firm’s valuation to new record highs.

Since going public at $31 per share and raising $1.05 billion, the stock has surged by nearly 750% to a peak NEAR $300, according to Yahoo Finance data.

That rally has pushed the company’s valuation beyond $63 billion, with enterprise value topping $70 billion during June 23 trading.

This sharp climb now places Circle ahead of several notable fintech firms. According to Artemis founder Jon Ma, Circle’s valuation has overtaken Robinhood’s $68 billion market cap and now surpasses Nubank ($59 billion) and Block ($38 billion).

At its intraday peak, Circle briefly outpaced Coinbase, the largest US-based crypto trading platform, in market cap on a fully diluted basis, according to Dragonfly’s general partner, Rob Hadick.

Despite being a new entrant to public markets, Circle’s valuation metrics are raising eyebrows. Ma pointed out that the firm now trades at 32 times its revenue, 80 times its gross profit, and over 280 times its earnings.

Still, bullish observers argue that this growth is backed by USDC’s global relevance and expanding institutional adoption of stablecoins. According to them, this rapid ascent has positioned Circle as a top contender among US-listed crypto firms.

Considering this, Ma believes Circle could permanently flip Coinbase’s market value in the future if it can hold its current trajectory.