Ark Invest Cuts Circle Stake by $45M Amid Senate Passage of GENIUS Crypto Legislation

ARK Invest Takes Profits on Circle as Stablecoin Bill Advances

Cathie Wood’s ARK Invest offloaded 300,108 shares of Circle Internet Group (CRCL) across three of its exchange-traded funds on Tuesday, cashing out around $44.7 million as part of its ongoing profit-taking strategy.

Circle’s stock closed at $149.15 in New York, maintaining momentum from a strong debut earlier this month.

ARK’s move came on the same day the U.S. Senate passed the GENIUS Act with bipartisan support—a regulatory milestone seen as a major win for stablecoin issuers like Circle. Jeremy Allaire, Circle’s CEO, hailed the bill as a “genius” piece of legislation in a post on social media.

While reducing its position in CRCL, ARK shifted capital toward other tech plays, increasing its stakes in semiconductor names like AMD—viewed as a promising AI opportunity following its updated roadmap—and Taiwan Semiconductor, a leading chip manufacturer.