ARK Invest has trimmed its stake in Circle (CRCL) once more, selling off shares worth roughly $146.3 million following the stablecoin issuer’s extraordinary market debut.
The latest sale was led by the flagship ARK Innovation ETF (ARKK), which dumped 490,549 shares, representing about 1.8% of its portfolio. Smaller sell-offs came from the ARK Next Generation Internet ETF (ARKW), offloading 75,018 shares, and the ARK Fintech Innovation ETF (ARKF), which sold 43,608 shares. The combined value of these sales is based on Circle’s closing price of $240.28 on June 20.
This marks the third—and largest—round of Circle share sales by ARK since the company’s IPO. Previous sales totaled $50 million and $44.7 million, respectively.
Circle has been one of the market’s standout stories this month. Its shares have skyrocketed from an IPO price of $31 on June 5 to nearly $240, delivering a massive 670% gain in just over two weeks. According to Fortune, the company’s debut ranks as the strongest for any U.S. firm raising $500 million or more since 1980.
The surge in Circle’s valuation has been fueled by optimism around regulatory clarity for the stablecoin sector, including the Senate’s passage of the GENIUS Act, which aims to set clearer rules for digital dollar-pegged tokens.
While cutting back on Circle, ARK has shifted capital toward other growth sectors. Recent portfolio additions include Advanced Micro Devices (AMD), Shopify, and Taiwan Semiconductor Manufacturing Company (TSMC).
Meanwhile, Circle continues to hold a commanding position in the crypto market. Its USDC stablecoin is the second-largest globally, with a circulating supply of $61.26 billion. Tether’s USDT remains the leader with $155.88 billion in supply.
USDC’s momentum keeps growing. Coinbase Derivatives recently announced a partnership with Nodal Clear to allow USDC as collateral for regulated futures trading in the U.S. Additionally, Shopify has begun accepting USDC payments through the Base blockchain, underscoring the token’s expanding role in digital commerce.
