Ark Invest of Cathie Wood just sold 342,658 shares of Circle Internet Group Inc., worth about 51.7 million USD, from three ETF funds as the price of CRCL shares reached a record high of 151.06 USD — nearly 5 times the IPO price of (31 USD). Specifically, ARKK sold 196,367 shares, ARKW sold 92,310, and ARKF sold 53,981 shares. This move comes after Ark purchased 373.4 million USD worth of Circle shares in the IPO valued at 1.1 billion USD earlier this month.
Circle is the issuer of USDC — the second largest stablecoin in the world after Tether's USDT. Interest in stablecoins has surged thanks to the progress of the GENIUS Act, which is expected to be passed by the U.S. Senate this week. Circle's CEO, Jeremy Allaire, stated that stablecoins have not yet reached the "iPhone moment," but he believes that moment is approaching.
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Ark Invest of Cathie Wood sells 51.7 million dollars worth of Circle shares as it reaches a new ATH.
Ark Invest of Cathie Wood just sold 342,658 shares of Circle Internet Group Inc., worth about 51.7 million USD, from three ETF funds as the price of CRCL shares reached a record high of 151.06 USD — nearly 5 times the IPO price of (31 USD). Specifically, ARKK sold 196,367 shares, ARKW sold 92,310, and ARKF sold 53,981 shares. This move comes after Ark purchased 373.4 million USD worth of Circle shares in the IPO valued at 1.1 billion USD earlier this month.
Circle is the issuer of USDC — the second largest stablecoin in the world after Tether's USDT. Interest in stablecoins has surged thanks to the progress of the GENIUS Act, which is expected to be passed by the U.S. Senate this week. Circle's CEO, Jeremy Allaire, stated that stablecoins have not yet reached the "iPhone moment," but he believes that moment is approaching.