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SHOCKING TURN OF EVENTS: ARK Invest Sells Off $51.8 MILLION in Circle Shares!

In a jaw-dropping twist in the world of finance, Cathie Wood’s ARK Invest has pulled the rug from under Circle (CRCL) by dumping a staggering $51.8 MILLION worth of shares! This bombshell follows a major investment just days earlier, where ARK Invest splurged $373 MILLION on Circle shares during its explosive debut on the NYSE.

THE DIVESTMENT DILEMMA: First Major CRCL Sell-Off!

Back in May, Circle made a sensational bid for public glory by filing for an NYSE listing, and by June 5, it was all systems go! This was met with roaring excitement across the crypto landscape. ARK Invest wasted no time, snatching up 4.49 MILLION shares on that historic first day.

But hold on! Just ELEVEN DAYS later, ARK Invest couldn’t resist selling off a hefty 342,658 shares spread across three of its popular ETFs. What’s the big deal? This is the firm’s FIRST divestment of Circle shares since going public!

The stakes were high, and it’s clear ARK Invest is scrambling to cash in the profits while they can. But don’t fret – Circle still holds its ground as one of ARK’s prized possessions! With an eye-watering $387.7 MILLION in the ARK Innovation ETF alone—making up nearly 6.6% of its assets—this isn’t the end for Circle just yet!

In fact, while ARKK revels in its sizable stake, ARKW and ARKF are not far behind, holding $124 MILLION and $72 MILLION in CRCL shares, respectively.

MAJOR COMPETITION: SBI Holdings Dives In with $50 MILLION!

And that’s not all, folks! The plot thickens as Japanese financial titan SBI Group throws its hat in the ring with a $50 MILLION stake in Circle! Announced just days after ARK’s renouncement, this strategic move signifies SBI’s commitment to expanding its foothold in the crypto-sphere.

With SBI scooping up 5% of Circle’s entire IPO shares, this partnership is sure to shake up the scene! Circle is clearly on a roll, having signed a ground-breaking memorandum with SBI earlier this year to conquer the Japanese market.

And if you’re thinking it’s risky business, think again! Those shares skyrocketed from $69 to an eye-popping $157.02—talk about a goldmine!

Ark Invest and SBI Holdings are making moves that could reshape the financial frontier. In a world where fortunes can change in the blink of an eye, who will come out on top in this high-stakes game? Stay tuned, because the drama is just heating up in the cryptocurrency arena!