ARK Invest Sells $146M in Circle Shares Amid CRCL Stock Surge
ARK Invest, under the leadership of Cathie Wood, has divested $146 million worth of Circle shares following a 248% surge in CRCL stock since its market debut. This transaction represents the third such sale within a week, cumulatively amounting to $243 million. Despite these sales, ARK Invest retains its position as the eighth-largest shareholder in Circle.
Transaction Breakdown
The sales were distributed across ARK’s three flagship funds: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). ARKK accounted for the majority of the sales, with 490,549 shares sold.
Key Highlights
- ARK Invest sold 609,175 Circle shares, totaling $146.2 million.
- CRCL stock closed at $240.3, marking a 248% increase from its initial offering price.
- ARK’s remaining stake in Circle is valued at $750.4 million.
Leading Circle Shareholders
Circle’s largest shareholders include IDG-Accel China Capital Fund II, General Catalyst Group Management, and James Breyer, with ARK Invest securing the eighth spot among these investors.
