Cathie Wood’s ARK locks in $243M profit on Circle shares with third major sale

Cathie Wood’s ARK Invest is still capitalizing on Circle’s strong post-IPO performance, gradually taking profits as the stock continues to surge.

Ark Invest has made another sale from its portfolio of Circle shares, this time offloading 609,175 from three of its funds, according to portfolio disclosures dated June 20.

The sales, worth approximately $146.2 million, were spread across ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF), with respective dumps of 490,549 CRCL, 75,018 CRCL, and 43,608 CRCL.

ARK’s sales timings have closely coincided with sharp price increases in CRCL, and this time is no different. The combined sale was worth around $146.2 million and came after a 20.4% jump in Circle’s stock price on the same day. With its previous sales on June 16 and 17, worth approximately $52 million and $45 million, ARK has now locked in about $243 million in profits from selling Circle shares.

Despite the recent dumps, the Cathie Wood-led firm remains one of the largest holders of Circle shares. ARK made an early entry with a 4.5 million share purchase shortly after the stock launched, and still holds over  3.2 million. 

The firm is surpassed by other large-scale holders like the Beijing-based IDG-Accel China Capital Fund II, which is currently the largest shareholder in Circle with 23.3 million shares. Since launch, CRCL has surged over 400%, now trading around $240 from its initial listing price of $31.

At current prices, ARK Invest is the eighth-largest CRCL holder, with its position valued at around $779 million. Circle now sits as one of the top holdings in ARK’s portfolio, along with others like Tesla (TSLA) and Robinhood (HOOD).