Cathie Wood’s global asset management firm, Ark Invest, has gone on a winning and selling spree. The asset manager has netted close to $45 million in revenue by disinvesting, which is the exact opposite of what its name suggests. And following its recent trend, it might just be getting started.
Just on Tuesday, Ark Invest’s three exchange-traded funds sold off more than 300,000 of their shares in Circle Internet Group. You can definitely say that Tuesday was a good day in the market for the company because that sale alone generated $44.76 million for the asset manager.
As big a win as that is, it has not been the only one for Ark in recent times. On Monday, just a day before that sale, the company also sold over 340,000 of the same Circle shares. That sale was reportedly worth $51.7 million.
Investors selling off some shares is not a new phenomenon; it’s everyday business. So, why is this any exciting news? Well, it’s not really about the sale itself but the timing. The US Senate just passed the GENIUS Act, a bill designed specifically to regulate stablecoin issuers, of which Circle is arguably the biggest. The passing of the bill is a major milestone, especially considering how long the US crypto industry has been crying out for crypto-friendly laws. Circle CEO, Jeremy Allaire, called the GENIUS Act “Genius”. And while he could have looked for better adjectives, there’s no denying the importance of this Act to crypto and stablecoins in particular.
It’s truly GENIUS https://t.co/0fClY524Ii
— Jeremy Allaire - jda.eth / jdallaire.sol (@jerallaire) June 17, 2025
The passing of the Act represents, among other things, a parliament that is more crypto-friendly than usual. Many are expecting a crypto boom with the passing of the law, but it seems Ark has other plans. It is also worth noting that while Ark may have sold off more than 600,000 of its shares in Circle, the investor still remains in Circle’s circle. The company still holds more than 4 million Circle shares, so it’s still very much involved.
Is Ark Still Focused On Circle?
But while it’s still in Circle’s corner, it would seem Ark Invest is also getting more interested in the chip designer AMD’s shares. The company’s shares have been considered an undervalued asset since the company released a recent roadmap, and Ark has taken that opportunity to increase its positions in the chip maker. Speaking of chip makers, Ark has also increased its positions in Taiwan Semiconductor, another chip manufacturing company.
The sale of Circle shares may be good for Ark, but in the long term, it may not be good for Circle’s stock. Since its IPO held on June 5, the company’s stock has gone up 139% at its peak. If Ark continues its recent trend of selling off Circle shares, the company’s stock value may hurl down towards the $100 mark.
So, in a large way, the immediate fate of Circle’s shares lies in the hands of the Ark investors. Should they cool off on selling them, other investors may follow in their steps and give Circle’s shares a chance to keep climbing high. We’ll see what happens in the next few days.
Dayo Paul
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