According to the firm’s latest trading disclosure, the firm’s ARK Innovation ETF (ARKK) offloaded the most significant chunk of CRCL with the sale of 306,921 shares, followed by the ARK Next Generation Internet ETF (ARKW), which sold 72,302 shares. The ARK Fintech Innovation ETF (ARKF) divested 36,621 shares.
Cumulatively, these three funds sold 415,844 CRCL shares for $109.6 million.
With the latest sale, ARK has liquidated a combined $350 million in CRCL holdings within four trading sessions.
Despite being a new entrant to public markets, Circle’s valuation metrics are raising eyebrows. Ma pointed out that the firm now trades at 32 times its revenue, 80 times its gross profit, and over 280 times its earnings.
Still, bullish observers argue that this growth is backed by USDC’s global relevance and expanding institutional adoption of stablecoins. According to them, this rapid ascent has positioned Circle as a top contender among US-listed crypto firms.
Considering this, Ma believes Circle could permanently flip Coinbase’s market value in the future if it can hold its current trajectory.
