The company Ark Invest at Cathie Wood continued to invest in the dumping of the dumping circle after selling 1.25 million CRCL shares last week for about 243 million dollars.
ARK has sold 415,844 shares another department of its money for $ 109.6 million on Monday, according to the trade notification that Cointelegraph saw.
The transactions were distinguished by the unloading of the fourth circle by ARK since the asset manager began to unload CRCL on June 16, 11 days after the launch of the General Circle on the New York Stock Exchange (NYSE).
With the new sale, ARK has now sold about 1.7 million Circle, which represents 37 % of CRCL 4.5 million on June 5.
Ark funds still have 2.6 million shares
The latest sales of ARK included transactions from the three Holding boxes, including Ark Innovation ETF (Arkk), Ark Next Generation Etf (Arkw) and Ark Fintech Innovation Etf (ArkF).
ARKK, the largest ARK fund with underground assets (AUM), sold $ 5.6 billion, 306,921 shares on Monday and still has about 1.7 million shares, which represents about 6.8 % of the total fund’s assets.
The other two funds, ARKW and ARKF, unloaded 72,302 shares and 36,621 shares, respectively, which led to holdings of 625,645 shares and 369128 shares, or 994,773 shares combined.
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All three funds were held together 2.6 million shares after the new sale, at a value of about $ 69.9 million based on the CRCL closing price on Monday of $ 263.4.
Circle shares to overcome USDC in the maximum market
The last sale of the Ark’s Crcl came amid the continuous rise of the continuous Meteoric Rise of Circle, as the shares were briefly at $ 299 on Monday, according to NYSE data.
The remarkable estimate of Circle shares has increased the market value as it approaches the market value of the pioneering Circle product, USDC (USDC) Stablecoin.
According to the companymarkcap data, Circle Internet Group is now 324 the largest public company around the world, with a marketing of a market of $ 63.9 billion.
At the same time, other sources such as Investing.com estimates the maximum Circle market at about $ 60 billion, indicating that the company has not yet overcome the current market value of USDC of $ 61.7 billion, according to Coingecko.
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Source: https://cointelegraph.com/news/cathie-wood-ark-frest-110-million-circle- PUMP?
It’s interesting to see Ark Invest strategically selling CRCL shares amid Circle’s meteoric rise. The continuous unloading of shares suggests a calculated move by Cathie Wood’s team, possibly to capitalize on the current market valuation. With ARK’s funds still holding significant shares, it’s clear they remain invested but are rebalancing their portfolio. The rapid growth of Circle’s market value, nearing that of USDC, highlights the company’s strong position in the market. What’s driving this surge in Circle’s stock price, and could it sustain this momentum in the long term? WordAiApi