ARK Invest Takes Early Profits After Circle’s Skyrocketing IPO

Cathie Wood’s ARK Invest capitalized on Circle’s explosive NYSE debut, selling 343,000 shares after a 118% surge from its $69 opening price to $164. The MOVE netted $51.7 million while maintaining Circle as a top holding across ARK’s crypto-focused ETFs.

ARK Innovation (ARKK) retains $388 million in Circle, ranking it fifth in the $5.6 billion portfolio. Both ARK Next Generation Internet (ARKW) and Fintech Innovation (ARKF) ETFs allocate 6.7% to Circle, trailing only their Coinbase positions.

The trade reflects Wall Street’s growing recognition of stablecoins as financial infrastructure rather than speculative assets. Wood’s bullish $1.5 million Bitcoin price target for 2030 remains unchanged, with institutional demand for digital scarcity and USD-backed tokens driving her thesis.