ARK Invest, a cryptocurrency-friendly asset management company founded by well-known Bitcoin bull Cathie Wood, began to realize its first profits from its investments just 11 days after the stablecoin issuer Circle went public.
According to trading notifications reported by Cointelegraph, on Monday, ARK sold 342,658 shares of Circle (CRCL) stock from its three funds, valued at $51.7 million.
This sale marks ARK's first reduction in CRCL stock since Circle began trading on the New York Stock Exchange (NYSE) on June 5.
On the first day of trading, ARK acquired approximately 4.49 million shares of Circle common stock, valued at $373.4 million based on the closing price.
After this sale, Circle remains one of the top holdings in ARK's three funds, which include the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
ARKK is the largest fund under ARK, managing $5.6 billion in assets and holding the largest position in CRCL, valued at $387.7 million, accounting for about 6.6% of its total assets.
ARKW holds $124 million in CRLC shares, making up 6.7% of its total assets, closely following Coinbase, which has a weight of 6.8%. ARKF is the smallest of the three funds, managing $72 million in CRCL shares, which accounts for 6.7% of its assets.
ARK was one of the early investors expressing intent to purchase up to $150 million in shares before Circle's listing on the NYSE. The company increased its purchase amount in response to significant investor demand after multiple IPO expansions.
On June 9, ARK's researchers noted that the success of Circle's IPO highlights how stablecoins have changed the public's perception of the cryptocurrency industry.
According to Hernando de Soto's framework, stablecoins are continuing the property rights revolution initiated by Bitcoin, the analysts wrote, adding, "Bitcoin allows people to realize financial property rights through smartphones. Stablecoins advance this cause through lower volatility assets and greater utility across blockchain and financial platforms."
ARK Invest founder and CEO Wood is regarded as a major bull on Bitcoin (BTC). In February 2025, she predicted that Bitcoin could reach $1.5 million by 2030, driven by increased institutional adoption and growing demand for BTC as an asset class.
Related: Genius Group's Bitcoin reserves grow by 52%, reiterating the goal of 1,000 BTC.
Original article: “Cathie Wood's ARK Fund Sells $51.7 Million in Circle Shares for First Profit Post-IPO”
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