As Circle's stock price rises by 250%, Cathie Wood's ARK Invest has reduced its holdings by $243 million in CRC.

According to Gate News bot, as reported by Cryptonews, although Circle (CRCL)'s stock has soared nearly 250% since its debut on the New York Stock Exchange on June 5, Cathie Wood's ARK Invest still reduced its holdings of CRCL valued at $146.2 million last Friday.

This time, ARK sold a total of 609,175 shares of CRC through its three funds, including the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).

The largest reduction was in ARKK (490,549 shares), followed by ARKW and ARKF, which reduced their holdings by 75,018 shares and 43,608 shares, respectively.

The sell-off on Friday coincided with a 20.4% increase in CRC's stock price, closing at $240.30, a significant rise from the opening price of $69 earlier this month.

This transaction marks the third time ARK has sold Circle stock within the week, totaling 1.25 million shares, valued at approximately $243 million.