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.
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