NewsletterCircle Stock Price Jumps 20% Despite Cathie Wood’s $110M CRCL Sell-Off
Highlights
- Circle Stock rally helps the USDC issuer close gap with Coinbase valuation.
- Circle's blockbuster IPO has spurred interest from mainstream investors with VanEck becoming largest holder.
- VanEck now holds more CRCL shares than Circle CEO Jeremy Allaire.
- Cathie Wood's Ark Invest sold 415,000 CRCL shares worth $110 million across three funds on Monday.
On Monday, Circle stock price surged by another 20%, moving all the way to $300, literally 10x from the IPO price within just three weeks of its Wall Street debut. Interestingly, yesterday’s rally came despite Cathie Wood’s Ark Invest selling a total of over 415,000 CRCL shares, worth more than $110 million, across three funds. Furthermore, the Iran-Israel peace deal provided an additional catalyst with 1% upside on Wall Street.
Circle Stock Price Surge Takes Wall Street By Storm
With a staggering 900% in just three weeks of Wall Street debut, the CRCL stock has now overtaken USDC stablecoin in market cap. After a 20% pump to $300 during Monday’s trading hours, the CRCL stock closed the day with 9.62% upside at $260.54, with its current market cap at $54 billion.
The stablecoin firm is now grabbing massive institutional attention with its blockbuster IPO. Bitwise Invest CEO Hunter Horsley stated: “Circle IPO is changing the conversation with mainstream investors. 2025 is the start of the mainstream era”. Drawing a leaf from Circle’s success, top crypto exchanges like Gemini and OKX are also preparing for a Wall Street debut, likely this year.
Circle stock is seeing a massive institutional accumulation and has become one of the top holdings for asset manager VanEck. VanEck CEO Matthew Sigel stated that their CRCL holdings have even overtaken CEO Jeremy Allaire’s holdings in the firm. In a message on the X platform, Sigel wrote:
“$CRCL is now the No. 1 weight in VanEck $MVDAPP index @ 13%, with smaller positions in active strategies. Our total holdings now exceed CEO Jeremy Allaire’s”.
Cathie Wood’s Ark Invest Offloads $110 Million of CRCL Shares
Cathie Wood’s Ark Invest offloaded a total of 415,000 Circle stocks from its holdings on Monday. This sell-off comes across three funds – ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF).
This is the second major selloff for CRCL by Cathie Wood’s Ark Invest within a week’s time. However, the firm still has a massive holding of 3.8 million CRCL shares. Ark Invest announced a massive $376 million investment within a week of CRCL stock debut. Back then, the CRCL stock was trading under $100. As a result, the firm is already sitting on 3x of its investment value.
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