ARK Invest Offloads $110M in Circle Shares Amid Valuation Surge

Cathie Wood's ARK Invest continues its profit-taking spree, selling $110 million worth of Circle (CRCL) shares on June 23. The divestment follows last week's $240 million sell-off, bringing total liquidations to $350 million within four trading sessions.

Circle's stock has skyrocketed nearly 750% since its public debut at $31 per share, peaking NEAR $300 and pushing its valuation beyond $63 billion. The rally positions the stablecoin issuer ahead of several established fintech players, marking a seismic shift in market perceptions of crypto-native firms.

ARK's three ETFs—ARK Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF)—collectively sold 415,844 CRCL shares. The MOVE reflects institutional investors' balancing act between capitalizing on crypto's explosive growth and managing risk during parabolic advances.