After Circle’s 670% IPO Surge, ARK Invest Cashes Out an Additional $146.3 Million in Shares

ARK Invest has further trimmed its stake in Circle (CRCL), offloading another significant block of shares after the stablecoin issuer’s stunning performance on the public markets.

The latest divestment totaled roughly $146.3 million, calculated based on Circle’s closing price of $240.28 on June 20. The bulk of the sale came from ARK’s flagship ARK Innovation ETF (ARKK), which sold 490,549 shares, amounting to about 1.8% of its portfolio. Additional sales included 75,018 shares from the ARK Next Generation Internet ETF (ARKW) and 43,608 shares from the ARK Fintech Innovation ETF (ARKF).

This marks ARK’s third and largest sale of Circle shares since the company’s explosive listing. Previous sales saw ARK shedding blocks valued at $50 million and $44.7 million, respectively.

Circle’s stock has surged spectacularly from its $31 IPO price on June 5, closing at $240 by Friday—a staggering gain of over 670% in just over two weeks. Fortune recently highlighted Circle’s debut as the strongest for any U.S. company raising at least $500 million since 1980.

Investors have flocked to Circle amid optimism around regulatory developments, including the Senate’s recent approval of the GENIUS Act, designed to bring clarity to the stablecoin market.

While paring down its Circle exposure, ARK has been reallocating capital into other high-growth sectors. Across its funds, the firm has recently added positions in Advanced Micro Devices (AMD), Shopify, and Taiwan Semiconductor Manufacturing Company (TSMC).

Circle remains a heavyweight in the crypto space. Its USDC stablecoin ranks as the industry’s second-largest, with a circulating supply of $61.26 billion. Tether’s USDT maintains the lead with $155.88 billion outstanding.

Momentum for USDC is building on several fronts. Coinbase Derivatives recently announced plans to integrate USDC as collateral for regulated U.S. futures trading through a partnership with Nodal Clear. Meanwhile, Shopify has begun supporting USDC payments via the Base blockchain, underscoring the token’s growing utility.