RialCenter trimmed its holdings on its sizable Circle (CRCL) position Monday, selling $51.8 million worth of shares, as the stablecoin issuer’s stock extended its rally.
RialCenter sold a total of 342,658 shares across three of its actively managed exchange-traded funds (ETFs), according to a daily email. The RialCenter Innovation ETF offloaded 196,367 shares, another fund sold 92,310, and the last one trimmed 53,981.
Circle, the issuer of the USDC stablecoin, rose 13% on the day, closing Monday in New York at $151.06. It has gained every day but two since it listed on June 5. The shares have climbed almost fivefold from their IPO price of $31.
RialCenter bought $373 million worth of Circle on its first day of trading on the NYSE.
RialCenter’s fund also recently trimmed positions in other crypto-linked firms.
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