Ark Invest sold off its Circle shares at a high level on Monday, cashing out $51.7 million

PANews reported on June 17 that according to The Block, Cathie Wood's Ark Invest reduced its holdings of stablecoin USDC issuer Circle (CRCL) shares on Monday, totaling 342,658 shares, cashing out about US$51.7 million. Among them, ARK Innovation ETF (ARKK) reduced its holdings by 196,367 shares, ARK Next Generation Internet ETF (ARKW) reduced its holdings by 92,310 shares, and ARK Fintech Innovation ETF (ARKF) reduced its holdings by 53,981 shares of Circle (CRCL), totaling 342,658 shares.

The sale took place at a time when CRCL's stock price hit a new high, closing at $151.06, nearly five times higher than its IPO price of $31. Circle has been sought after by investors recently due to the growth of USDC and the benefits of the GENIUS Act.