Cathie Wood sells USD $ 51 million Circle shares when price breaks new maximum

By Hannah Pérez

Circle’s shares in NYSE shot Monday to reach a new price maximum, and Cathie Wood Ark took the opportunity to sell a little more than USD $ 51 million.

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• Cathie Wood Ark downloaded 342,600 CRCL shares in the middle of the price rally.
• Circle’s actions shot more than 10% on Monday to reach a new maximum.
• They have increased more than five times since their initial price of IPO at the beginning of the month.
• Circle enthusiasm occurs at a key regulatory moment in the United States.

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The actions of Circlethe Stablecoins issuing company behind USDC extends the winning streak since its recent debut at the beginning of the month and some high -profile holders are taking advantage to take profits.

ARK Investthe investment firm led by Cathie Wood, considerably cut its position in Circle When it sold CRCL shares worth more than USD $ 50 million on Monday in the midst of new historical price.

In particular, three of the signature investment funds –Ark Innovation ETF (ARKK), Ark Next Generation Internet ETF (ARKW) and The Ark Fintech Innovation ETF (ARKF)– They discharged together a total of 342,658 CRCL shares for an approximate value of USD $ 51.7 million, according to media such as COINDESK and The Block.

The greatest amount of actions left Arkk, which sold just over 196,300 CRCL shares.

The sale coincided with a new price for shares of Circlethat on Monday more than 12% emerged at a level of USD $ 165.6 before closing the day in USD $ 151, as shown by data from Yahoo Finance!

The company behind the second largest Stablecoin By market capitalization, USDC, began to negotiate its actions in the New York Stock Exchange on June 5 after a very successful initial public offer (IPO). The actions of Circle 200% were fired on their first public day since the set price of the USD IPO $ 31. The actions have now raised almost five times since that level.

The movement of ARK It comes after the Wood firm acquired USD $ 373 million CRCL shares on the day of the debut. At that time, several of the vehicles of ARK they sold actions of their own bottom quoted in the stock market (ETF) of Bitcoin In cash, ARKB, which is offered in the US market, as part of an effort to rebalance the portfolio.

The IPO of Circle Attracted the attention of high profile investors, including the Japanese Bank SBI, which would have made an investment of USD $ 50 million in the shares of the Stablecoins station.

The positive price action of Circle In the American Stock Exchange it could be a reflection of investors’ enthusiasm by Stablecoins, who are gaining impulse to the perspective of a new regulation in the United States. This materializes in the advances of the Genius Law in the Senate, a key legislative proposal on Stablecoins that will undergo a final vote this Tuesday.

Circle enters between a limited list of cryptocurrency companies that have been made public in the United States, such as Coinbase, Robinhood And recently ETORO. Now others like the Exchange Gemini and Kraken They look for the same.

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Hannah Estefanía Pérez / Diariobitcoin

Image generated with AI, under free use license

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