ARK Invest Sells $100M in Circle Shares but Maintains Strong Position

Cathie Wood's ARK Invest has offloaded nearly $100 million worth of Circle Internet Group (CRCL) shares across three of its ETFs this week. The sales—$44.76 million followed by $51.7 million—came primarily from ARK Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF) funds. Despite the divestment, Circle remains a top-10 holding in each portfolio, with ARKK's $371 million stake representing 6.13% of its assets.

The stablecoin issuer's NYSE debut on June 5 saw shares rocket from $31 to $163 within two weeks before settling at $153. ARK had initially committed to $150 million in pre-IPO purchases before increasing its position during Circle's upsized offering. "This is portfolio rebalancing, not retreat," suggests one analyst, noting ARKW's 6.05% Circle allocation still trails only Roblox in its holdings.