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Cathie Wood’s ARK Invest has sold a portion of its holdings in Circle Internet Group Inc., realizing over $51 million in gains. The decision came just 11 days after Circle’s stock started trading publicly. This move followed a sharp rise in the company’s stock price, which has increased nearly fivefold since its debut.
ARK Invest Trims Circle Holdings After Rapid Stock Increase
On Monday, ARK Invest sold 342,658 shares of Circle (CRCL), worth approximately $51.7 million, across three of its funds. The transaction was disclosed in the firm’s daily trading report and confirmed by multiple financial sources.
The sale occurred shortly after Circle’s stock reached a new high. The company’s shares closed at $151.06 on Monday, up 13.1% for the day. Circle debuted on the New York Stock Exchange on June 5 at $31 per share and touched an intraday high of $165.60 before settling lower.
ARK had initially bought around 4.49 million shares on the first day of Circle’s IPO. The purchase cost the firm around $373 million. Monday’s sale represents about 7.6% of its original position, meaning ARK still holds over 4.15 million Circle shares, currently valued at more than $628 million.
Circle Now Among Top Holdings in ARK Funds
Despite the partial sell-off, Circle remains one of the top five assets across ARK’s three ETFs. The ARK Innovation ETF (ARKK), the largest of the funds with $5.6 billion in assets under management, reduced its position by 196,367 shares. It still holds about $387.7 million in CRCL, representing 6.6% of its total value.
The ARK Next Generation Internet ETF (ARKW) offloaded 92,310 shares but continues to hold $124 million worth of Circle shares, which is about 6.7% of the fund. The ARK Fintech Innovation ETF (ARKF) sold 53,981 shares and holds $72 million in CRCL, also about 6.7% of its portfolio.
ARK was one of the early buyers in Circle’s public offering and had expressed interest in purchasing up to $150 million in shares before trading began. The firm increased its investment after the IPO was upsized due to strong investor demand.
Circle’s IPO Draws Investor Attention Across the Sector
Circle’s stock has been one of the most closely watched since its launch. The company is best known for issuing USDC, the second-largest stablecoin pegged to the U.S. dollar. Its rapid market performance has attracted attention from institutional and retail investors alike.
Jeremy Allaire, Circle’s CEO, commented on the growing role of stablecoins in digital finance. He wrote on social media that stablecoins are approaching a “transformational phase” for developers and global users.
Other early investors, including the Sigil Fund, have also reported large gains on their Circle investments. CRCL’s rapid rise has aligned with a broader increase in investor interest in blockchain-linked financial instruments, especially as regulatory clarity around stablecoins improves in the U.S.
ARK Adjusts Broader Crypto and Tech Exposure
Alongside trimming Circle, ARK also adjusted other positions on the same day. The firm reduced its holdings in crypto-related companies like Coinbase (COIN) and Robinhood (HOOD). At the same time, it added to its positions in Nvidia (NVDA) and DoorDash (DASH), reflecting a broader portfolio strategy.
Cathie Wood remains known for her long-term outlook on disruptive innovation sectors, including digital assets. Earlier this year, she forecasted that Bitcoin could reach $1.5 million by 2030, citing growing institutional interest and demand.
Circle’s listing and ARK’s involvement have further increased the visibility of stablecoins as a financial tool. The GENIUS Act, which is expected to advance in the U.S. Senate, could provide a formal regulatory framework for stablecoin issuers in the country.
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