news 
Title: Ark Invest Sells Nearly $100 Million in Circle Shares Over Two Days
Ark Invest, a prominent investment management company, has reportedly offloaded almost $100 million in Circle (CRCL) shares over the past 48 hours. This significant reduction in its exposure to Circle comes as the stablecoin issuer sees a dip in market value.
According to recent data, Ark Invest began unwinding its position on June 16 and completed the sale by June 18. Over the two-day period, the company sold approximately $91.7 million worth of Circle shares. This substantial reduction marks a significant shift from Ark’s previous stance, as it had previously invested heavily in the stablecoin issuer.
The sale is attributed to Ark’s focus on thematic investing and its precision lens on identifying trends and opportunities within the digital asset landscape. The company has been instrumental in promoting Web3 development through various initiatives and collaborations with other industry players.
It remains unclear whether this latest decision signals a fundamental change in Ark Invest’s investment strategy or merely a tactical adjustment amid market fluctuations. The impact of this transaction will undoubtedly have significant implications for Circle, potentially influencing the stablecoin’s value and adoption trajectory.
Source: cryptoslate.com
