Ark Invest Offloads $110 Million in Circle Stock Following 600% Post-IPO Surge

Cathie Wood's ARK Invest liquidated 415,844 shares of Circle (CRCL) worth approximately $110 million on June 23, capitalizing on a meteoric rally that saw the stock peak at $299—nearly 10 times its $31 debut price earlier this month. The sell-off triggered a temporary dip to $247.8 before partial recovery to $263.45, signaling potential profit-taking momentum among institutional investors.

The rally appears fueled by legislative tailwinds, with the US Senate passing the GENIUS Stablecoin Act on June 17. This landmark bill—now awaiting House approval—would mandate 1:1 dollar backing for issuers like Circle and Tether while potentially unlocking banking sector adoption. Regulatory clarity could accelerate mainstream stablecoin integration, though ARK's exit suggests near-term volatility.