Ark Invest Continues Circle Sell-Off, Adds Stakes in Robinhood and Coinbase

Ark Invest is continuing to cash in on the soaring value of Circle shares following the stablecoin firm’s blockbuster public debut earlier this month. The investment firm, led by Cathie Wood, sold 415,855 shares of Circle across its various ETFs, with the stake valued at approximately $109.6 million based on Circle’s closing price of $263.45 on Monday.

This latest move follows Ark’s sale of 609,175 Circle shares last week, adding to two earlier tranches of selling as the firm locks in profits from Circle’s impressive rally.

Meanwhile, Ark has been redeploying capital into other prominent fintech and crypto firms. The company recently purchased 4,198 shares of Coinbase, worth around $1.3 million, and acquired a significantly larger stake of 319,640 shares in Robinhood, valued at $24.4 million.

Circle, which manages USDC—the world’s second-largest stablecoin—went public in the U.S. earlier this month at an initial offering price of $31 per share. Since its debut, the company’s stock has surged more than 7.5 times its IPO price, prompting Ark Invest to both capitalize on gains and adjust its portfolio exposure.