Ark Invest realizes profits on Circle stock surge, selling $110 million worth of shares

Cathie Wood's Ark Invest has raised $109.6 million in Circle as its shares soar
The sale was made in the company's three exchange-traded index funds (ETFs). On the 23rd (local time), Ark Investors
In total, the company sold 415,844 Circle shares, 306,921 shares in the ARK Innovation ETF (ARKK) and 306,921 shares in the ARK Next Generation Internet ETF (AR
KW) and 36,621 shares in the ARK Fintech Innovation ETF (ARKF).
Circle shares (ticker: CRCL) closed up 9.6% at $263.45 on the day.
It rose another 2.7% in after-hours trading, up nearly 600% from its IPO price of $31. Its market capitalization briefly hit $68.9 billion, the highest ever recorded on the same day.
The sale was made on June 5th, the same day Circle was listed on the New York Stock Exchange (NYSE).
The profits were realized after the purchase of a total of 4,486,560 shares. At the time, Circle had increased its public offering size to $1.1 billion, which resulted in investors receiving a return of approximately 600%.
The recent rise in Circle's stock price is attributed to the US Senate passing the historic stablecoin-related bill, the GENIUS Act, and sending it to the House of Representatives.
President Donald Trump also urged the House to pass it quickly, saying, "I want it on my desk as soon as possible."
On the same day, Ark Innovation ETF (ARKK) was listed on Robinhood.
d) Purchased 319,640 new shares (worth approximately $24.4 million), and ARKW and ARKF purchased a total of 4,198 additional Coinbase shares (worth approximately $1.3 million).