Key Highlights:
- Ark Invest disposed of 300,108 shares of Circle Internet Group valued at $44.7 million across three ETFs.
- The sale aligned with the U.S. Senate’s passage of the GENIUS Act, aiming to bolster regulations for the crypto industry, especially for stablecoin issuers like Circle.
- Ark Invest has also shifted its focus, increasing investments in AMD and Taiwan Semiconductor.
On Tuesday, Ark Invest sold a total of 300,108 shares of Circle Internet Group, continuing a profit-taking strategy that netted approximately $44.7 million. This transaction occurred as Circle’s shares (CRCL) closed at $149.15, carrying forward the momentum from a robust trading start earlier in June.
Cathie Wood, CEO of ARK Invest, at Consensus 2024 by CoinDesk
The divestment was coincident with a significant victory for the crypto sector, as the Senate passed the GENIUS Act, aimed specifically at regulating stablecoin operations. Circle’s CEO, Jeremy Allaire, expressed his approval of the legislation, calling it a “genius” initiative in a recent post on X.
As part of this strategic shift, Ark Invest has also ramped up its holdings in chip firms like AMD, identified for its promising AI roadmap, and Taiwan Semiconductor.
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