Cathie Wood’s ARK Offloads Another $45M in Circle Shares — Should Traders Be Worried?
Cathie Wood’s ARK Invest has continued to offload its shares of Circle (CRCL), shedding another $44.7 million worth on June 17.
Key Takeaways:
- ARK Invest has sold nearly $100 million worth of Circle shares in just two days.
- The firm’s divestment now totals over 640,000 shares, or 14% of its original stake.
- Despite bullish legislation, Circle’s stock dipped as ARK remained the only major backer reducing exposure.
The move brings its two-day total to nearly $100 million, raising questions about the investment firm’s confidence in the USDC stablecoin issuer and the broader crypto market amid worsening geopolitical tensions.
Previously, the firm sold 342,658 shares of Circle on Monday, valued at roughly $51.7 million.
According to trade notifications, ARK sold 300,108 shares across its three major ETFs — ARK Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF).
ARKK accounted for the largest sale with over 208,000 shares, while ARKW and ARKF offloaded smaller portions.
The timing of the sale came as Circle’s stock fell 1.3% on the day, closing at $149 after briefly trading above $165 the day prior.
That drop followed the Senate’s passage of the GENIUS stablecoin bill, a legislative win that many expected to support the stablecoin industry.
So far, ARK is the only major Circle investor to significantly reduce exposure post-IPO.
Other backers, including BlackRock, reportedly eyeing a 10% stake in the company, have not disclosed any sales.
Executives at Circle, however, have sold portions of their holdings. CEO Jeremy Allaire, co-founder Sean Neville, and CFO Jeremy Fox-Geen were listed in the prospectus as planning to sell 8%, 11%, and 11% of their holdings, respectively.
ARK’s total divestment now stands at 642,766 Circle shares, around 14% of the 4.49 million shares it acquired when Circle went public on June 5. At that time, the firm’s investment was valued at over $373 million.
Trump’s Iran Threats Shake Crypto Markets
The sell-off arrives as the crypto market slipped Tuesday after US President Donald Trump issued a direct threat toward Iran’s supreme leader, sparking fears of broader geopolitical instability.
Trump posted on Truth Social that Ayatollah Ali Khamenei was a “target” but would not be “taken out… at least not for now,” amid rising tensions between Iran and Israel.
Bitcoin quickly dropped from $104,310 to $103,553 following Trump’s comments before recovering above $105,000. Ether and XRP also recorded losses of over 1%, reflecting broader market caution.
Sentiment metrics shifted sharply as the Crypto Fear & Greed Index fell from “Greed” to “Neutral” for the first time in nearly two weeks.
The market appears sensitive to any escalation involving Iran, especially with continued hostilities between Tehran and Tel Aviv.
Since returning to the presidency in early 2025, Trump’s actions — including a tariff order in February — have triggered both dips and rallies.
Notably, his election victory in late 2024 coincided with Bitcoin’s historic surge past $100,000.
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