Ark Invest Continues to Dump Circle Shares, Buys Robinhood and Coinbase

Ark Invest is continuing to take profit from its bet on Circle’s meteoric run as a listed firm. It also bought 4,198 shares of Coinbase, worth $1.3 million and 319,640 shares of Robinhood, worth $24.4 million.

The Cathie Wood-led investment firm sold 415,855 shares of Circle across its various ETFS, valued at $109.6 million based on the stablecoin operator’s last close of $263.45 on Monday.

Last week, the investment company sold 609,175 shares of Circle. It had earlier sold Circle shares in two more tranches.

Circle, which operates the second largest stablecoin USDC, was listed in the U.S. earlier this month. Since then, Circle has jumped 7.5 times from its IPO price of $31.Ark quickly scooped up shares of Circle and has been reaping in the profits since then.