ARK Invest Divests First Portion of Circle Shares for $52 Million
ARK Invest, the asset management firm led by prominent Bitcoin proponent Cathie Wood, has executed its first sale of Circle shares, totaling $51.7 million. This transaction represents ARK’s initial reduction in its Circle position since the company’s June 5 debut on the New York Stock Exchange (NYSE). Despite this divestment, Circle maintains a substantial presence across ARK’s three primary investment funds, demonstrating the firm’s ongoing confidence in the stablecoin issuer.
Circle’s Prominent Position in ARK’s Holdings
Circle continues to feature prominently in ARK’s investment portfolio across these key funds:
- ARK Innovation ETF (ARKK)
- ARK Next Generation Internet ETF (ARKW)
- ARK Fintech Innovation ETF (ARKF)
ARKK, the largest of these funds with $5.6 billion in assets under management, maintains the most significant Circle position at $387.7 million, representing approximately 6.6% of its total holdings.
Circle’s Market Performance Since IPO
Circle’s stock has demonstrated impressive growth since its NYSE introduction:
- Initial trading price: $69 per share (June 5)
- Peak price: $164 (June 16)
- Current growth: 118% (as of June 17)
This upward trajectory reflects strong market confidence in Circle and broader acceptance of stablecoins within the cryptocurrency sector.
ARK’s Strategic Investment Approach
ARK Invest demonstrated early confidence in Circle, initially committing to purchase up to $150 million in shares prior to the NYSE listing. The firm subsequently increased its investment in response to strong market demand during the IPO process. This strategic positioning underscores ARK’s belief in Circle’s long-term potential and the evolving stablecoin market.
Stablecoins’ Evolving Role in Cryptocurrency
ARK’s analysts highlight Circle’s successful public offering as evidence of shifting perceptions toward stablecoins. They position these assets as natural successors to Bitcoin’s property rights revolution, offering reduced volatility while maintaining cross-platform utility across blockchain networks and financial systems.
Cathie Wood’s Bitcoin Market Outlook
Cathie Wood, ARK Invest’s founder and CEO, maintains a notably bullish stance on Bitcoin. Her February 2025 projection anticipates Bitcoin reaching $1.5 million by 2030, driven by increasing institutional adoption and growing recognition of Bitcoin as a legitimate asset class.
