Circle is one of the top ARK holdings across three funds with a weight of up to 6.7%.
ARK Invest, the cryptocurrency-friendly asset manager founded by prominent Bitcoin bull Cathie Wood, is taking the first profits from its exposure to stablecoin issuer Circle just 11 days after its public launch.
On Monday, ARK offloaded 342,658 Circle (CRCL) shares worth $51.7 million from its three funds, according to a trade notification seen by Cointelegraph.
The sale marks the first divestment of ARK’s CRCL shares since Circle debuted public trading on the New York Stock Exchange (NYSE) on June 5.
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