Cathie Woods Ark Invest sells $ 146 million in circle shares
Cathie Wood's ARK Invest has expanded its circle sales activities after the CRCL share has increased by almost 250 % since its stock exchange debut.
On Friday, ARK sold a further 609,175 circle shares from his three funds for $ 146.2 million, as can be seen from a commercial report, which is CoinTelegraph.
The sale took place in the middle of an increase in the company's shares by 20.4 %, which closed on Friday with $ 240.3 or 248 % above the opening course of $ 69 on the New York Stock Exchange on June 5.
The most recent sale was the third from Ark in the past trade week. All three sales amounted to a total of 1.25 million CRCL shares and brought around $ 243 million based on the daily closing courses.
ARK sells about 300,000 CRCL shares daily
The most recent sale of Circle shares by ARK affects transactions of the three Ark funds, including the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ArkW) and the Ark Fintech Innovation ETF (ARKF).
The largest fund, ARKK, sold 490,549 CRCL shares, while Arkk and ARKF 75.018 and 43,608 shares.
The company sold $ 45 million of shares on Tuesday, after it had made a previous sale worth $ 52 million on Monday.
ARK is the 8th largest holder of Circle
The total sale of Circle shares by ARK in the past week corresponds to almost 29 % of the 4.49 million CRCL shares that the company acquired on June 5 when Circle was launched.
Despite the massive sale, Ark remains one of the largest CRCL investors and, according to Bloomberg, ranked terminal data on June 20 at 3:00 p.m. UTC in eighth of investors.
According to the information, the IDG-Accel China Capital Fund based in Beijing is the largest circle participant with 23.3 million shares, followed by General Catalyst Group Management and James Breyer, who hold 20.1 million or 16.7 million shares.
ARK continues to hold circle shares worth $ 750.4 million (as of June 20), with CRCL with one Weighting of 7.8 % is the largest position in the ARKW fund.
