Following a Massive 670% Rise Since IPO, ARK Invest Unloads Another $146.3 Million Worth of Circle Stock

ARK Invest has unloaded another sizable chunk of its holdings in Circle (CRCL), cashing out roughly $146.3 million as the stablecoin issuer continues to bask in the glow of one of the year’s most spectacular IPOs.

The bulk of ARK’s latest sale came from its flagship ARK Innovation ETF (ARKK), which sold 490,549 shares, trimming about 1.8% off its portfolio allocation. The ARK Next Generation Internet ETF (ARKW) also offloaded 75,018 shares, while the ARK Fintech Innovation ETF (ARKF) shed 43,608 shares. The combined sales are valued based on Circle’s closing price of $240.28 on June 20.

This marks the third—and largest—round of Circle share sales for ARK Invest since Circle’s June IPO. Earlier sell-offs amounted to $50 million and $44.7 million, respectively.

Circle’s market debut has been nothing short of meteoric. The company’s stock has soared from its $31 IPO price on June 5 to Friday’s close at nearly $240, a staggering 670% increase in a matter of just over two weeks. According to Fortune, this makes Circle’s IPO the strongest for any U.S. firm raising at least $500 million since 1980.

Investors have been piling into Circle shares amid optimism for regulatory clarity, especially following the U.S. Senate’s passage of the GENIUS Act, which aims to create a legal framework for stablecoins and their issuers.

Even as it trims its Circle exposure, ARK is reallocating capital into other sectors. Across its various funds, ARK has recently added positions in Advanced Micro Devices (AMD), Shopify, and Taiwan Semiconductor Manufacturing Company (TSMC).

Circle continues to hold a dominant place in the crypto ecosystem. Its USDC stablecoin remains the world’s second-largest, with a circulating supply of $61.26 billion. Tether’s USDT retains the top spot, commanding $155.88 billion in supply.

Momentum for USDC is still building. Coinbase Derivatives recently revealed plans to work with Nodal Clear to use USDC as collateral for regulated futures trading in the U.S. Meanwhile, Shopify has begun supporting USDC payments through the Base blockchain, showcasing the stablecoin’s growing role in digital commerce.