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Cathie Wood’s ARK Invest boosted the swagger in the CRCL stock nearly 250% since its listing.
According to a trade notice from Cointelegraph, Ark dumped 309,175 circles of stocks from its three funds at a price of $146.2 million.
The sales rose 20.4% on Friday, with a closing price of $240.3, 248% above the June 5 New York Stock Exchange opening price.
The latest dump marks the third sale of Ark in the last week, with all three selling totaling 1.25 million shares, and a net worth of $243 million based on the daily closing price.
Ark sells about 300,000 shares of CRCL stock every day
ARK’s latest Circle stock sales involve transactions from 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 shares of CRCL shares, while ARKW and ARKF sold 75,018 shares and 43,608 shares respectively.
The company sold $45 million on Tuesday after another $52 million sale on Monday.
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The Ark is the eighth largest holder of the circle
ARK’s total Circle stock sales over the past week accounted for nearly 29% of the 4.49 million CRCL shares purchased on the Circle public offering on June 5.
Despite the massive sales, Ark remains one of the largest CRCL holders, UTC ranked eighth largest investor as of June 20, according to Bloomberg terminal data.
Beijing-based IDG-ACCEL China Capital Fund II is the largest Circle holder with 23.3 million shares, followed by CataLyst Group Management and James Breyer, which hold 20.1 million shares and 16.7 million shares respectively, according to the data.
As of June 20, ARK continued to hold Circle shares worth $750 million, with CRCL becoming the highest stake in the ARKW fund, weighing 7.8%.
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