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Circle's stock price soared after its IPO, with a market capitalization approaching Coinbase and USDC.
According to The Block, Ark Invest sold 415,844 shares of Circle stock on Monday, worth $109.6 million.
Ark Invest, led by Cathie Wood, sold $109.6 million worth of Circle shares through its three exchange-traded funds (ETFs) on Monday, coinciding with the stock's continuous rise since its initial public offering.
The latest trading report shows that Ark Invest sold a total of 415,844 shares of Circle stock today. Among them, the ARK Innovation ETF (ARKK) sold 306,921 shares of Circle stock, the ARK Next Generation Internet ETF (ARKW) sold 72,302 shares, while the ARK Fintech Innovation ETF (ARKF) reduced its holdings by 36,621 shares of this stablecoin issuer.
According to data from Yahoo Finance, Circle (stock code: CRCL) has seen its stock price rise for the third consecutive trading day, closing up 9.6% on Monday at $263.45, and increasing by another 2.7% after hours, bringing its market capitalization to $68.9 billion, briefly surpassing the market capitalization of Coinbase and USDC recorded that day.
Ark Invest's profit-making operation follows its purchase of 4,486,560 shares of Circle stock at the time of its high-profile $1.1 billion IPO on the New York Stock Exchange on June 5, priced at $31 per share. Since then, the stock has provided investors with nearly a 600% return.
In the past week, after the U.S. Senate passed the landmark stablecoin bill - the "GENIUS Act" and submitted it for further review by the House of Representatives, Circle's stock price received a boost. Reports indicate that President Trump also urged the House to expedite the bill, saying, "It must be on my desk as soon as possible."
Additionally, Ark Invest's ARKK purchased 319,640 shares of Robinhood stock on Monday, worth approximately $24.4 million; at the same time, ARKW and ARKF collectively bought 4,198 shares of Coinbase stock, worth approximately $1.3 million.
On that day, the Nasdaq Composite Index rose by 0.94%, while the Dow Jones Industrial Average increased by 0.89%.