Ark Invest Nets $185M Profit After Selling 288K Circle Shares at $151

Quick overview

Ark Invest sold 288,677 shares of Circle (CRCL) stock across two of its major ETFs—ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW). This comes just days after the initial purchase of 4.5 million shares worth $373 million.

CRCL stock has gone from $96 to $151, up 50% in 10 days. At Monday’s close, Ark Invest had an unrealized gain of around $185 million from its total Circle holdings. Despite the partial sell off, Ark is still a significant holder of Circle.

The company hasn’t said why, but this is likely just a standard portfolio rebalancing. Ark’s trading activity also shows new buys of Nvidia (NASDAQ: NVDA) so they are diversifying.

Circle Stock Goes 5x Post-IPO

Circle’s performance since IPO has been stunning. Debuting at $31, CRCL is up nearly 5x to $30 billion in value in under 2 weeks.

This has gotten attention from both traditional investors and crypto veterans:

• Arthur Hayes, BitMEX co-founder, thinks competition in the stablecoin market will heat up.
• Michael Saylor’s camp sees Circle as a future U.S. Treasury linked entity.

These endorsements and debates are a sign of Circle’s growing importance in the digital finance ecosystem.

USDC on XRP Ledger

While Circle’s stock is up, the company’s business is expanding. Last week Circle launched USDC on the XRP Ledger (XRPL)—a move to increase liquidity access and operational efficiency for developers and institutions.

Benefits of the XRPL integration:

• No bridge required for USDC transfers
• Faster transaction speeds
• Enhanced security features

This is a big move for Circle and supports their broader mission of cross-chain interoperability.

As Ark rebalances and Circle grows, all eyes are on how the stablecoin giant navigates the competition and regulatory landscape in the coming months.

ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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