Ark Invest Sells $100M in Circle After IPO Surge

Cathie Wood's Ark Invest sold nearly $100 million in Circle Internet Group (CRCL) shares over two days after its IPO rally, signaling a significant shift in institutional sentiment. The sell-off occurred as Circle's stock faced its first post-IPO dip but later showed signs of recovery, maintaining investor interest. This activity coincided with the U.S. Senate's bipartisan passage of the GENIUS Act, which establishes new regulatory clarity for stablecoin issuers and was welcomed by Circle's CEO. Circle's market capitalization now exceeds $36 billion, but some analysts warn that the hype could trigger unstable stablecoin projects. Ark Invest redirected some funds into chipmakers AMD and Taiwan Semiconductor, aiming for exposure to AI growth. These developments reflect both optimism and caution in digital assets and related sectors.