After GENIUS Act Clears Senate, Ark Invest Offloads Almost $45 Million of Circle Holdings

Ark Invest Trims Circle Stake for $44.7M as Senate Passes Stablecoin Bill

The GENIUS Act, hailed as a significant victory for stablecoin issuers like Circle and the broader crypto industry, arrived alongside profit-taking by Cathie Wood’s Ark Invest.

On Tuesday, Ark sold a total of 300,108 shares of Circle Internet Group (CRCL) across three of its exchange-traded funds, pocketing roughly $44.7 million. The sales marked Ark’s second consecutive day of reducing its Circle position after the company’s shares soared during their initial days of trading earlier this month.

Despite the sell-off, Circle’s stock closed Tuesday in New York at $149.15, maintaining strong investor momentum.

The timing of Ark’s divestment coincided with a major policy milestone: the U.S. Senate’s bipartisan passage of the GENIUS Act, legislation aimed at regulating stablecoin issuers like Circle.

Circle CEO Jeremy Allaire praised the bill in a post on X, calling it a “genius” piece of legislation for the industry.

Meanwhile, an investor notice revealed that while Ark trimmed its CRCL exposure, it boosted holdings in chip designer AMD—seen as an undervalued play in the AI sector following its new product roadmap—as well as in Taiwan Semiconductor, the world’s leading chipmaker.