Cathie Wood’s ARK Invest trimmed its holdings on its sizable Circle (CRCL) position Monday, selling $51.8 million worth of shares, as the stablecoin issuer’s stock extended its rally.
ARK sold a total of 342,658 shares across three of its actively managed exchange-traded funds (ETFs), according to a daily email. The ARK Innovation ETF (ARKK) offloaded 196,367 shares, ARKW sold 92,310 and ARKF trimmed 53,981.
📖 Related Reading
- 📰 CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
- 📰 Asia Morning Briefing: BTC Slips Below $110K as ‘Signs of Fatigue’ Emerging
Circle, the issuer of the USDC stablecoin, rose 13% on the day, closing Monday in New York at $151.06. It has gained every day but two since it listed on June 5. The shares have climbed almost fivefold from their IPO price of $31.
ARK bought $373 million worth of Circle on its first day of trading on the NYSE.
Wood’s fund also recently trimmed positions in other crypto-linked firms like Coinbase (COIN) and Robinhood (HOOD).
🔗 You Might Also Be Interested In
CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
Asia Morning Briefing: BTC Slips Below $110K as ‘Signs of Fatigue’ Emerging
$302 Million Lost to Crypto Scams, Hacks, and Exploits in May: CertiK
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!