After Circle's listing, the stock price soared, and the main shareholders' Holdings have attracted attention.

Since the stablecoin issuer Circle successfully went public in early June, its stock price has continued to rise, attracting the attention of global investors. Notably, the company has even become the fourth largest overseas stock purchased in South Korea this year. With the significant increase in stock price, Circle's investors and key shareholders have received considerable returns, and their Holdings have become a focal point of market attention.

This article outlines the reduction in holdings and share scale of 11 major shareholders of Circle before and after its listing. In terms of shareholding ratio, IDG Capital has become one of the largest known non-founder shareholders of Circle due to multiple rounds of early investment. Early investors such as Accel, General Catalyst, Breyer Capital, and Oak locked in some profits by reducing their holdings before the listing, but they missed out on some potential profits due to exiting early, which could be as high as hundreds of millions of dollars. However, most investors still maintain a considerable Holdings and will continue to benefit from the rise in stock prices. Meanwhile, some later participants, such as ARK Invest, chose to make bold bets in the early stages of Circle's listing and then cashed out in stages at high points to reap substantial returns.

IDG Capital: Cashing out over $68 million before going public, still one of the largest external shareholders.

IDG Capital is one of the early venture capital institutions in China that focuses on early-stage investments and has invested in several well-known technology companies. As an important early investor in Circle, IDG participated in the company's Series A, B, and C funding rounds, holding a significant amount of equity.

The prospectus shows that the shares held by IDG are owned by its affiliated entities Chuang Xi Capital Limited and Wide Palace Limited, totaling 23,275,040 shares, with a shareholding ratio of 12.8%.

Chuang Xi Capital reduced its holdings by approximately 2.328 million shares at a price of $29.3 on June 6, cashing out approximately $68.29 million. Based on the current market price of $213.6, IDG-affiliated capital still holds approximately 20.947 million shares of Circle stock after the reduction, with a holding percentage of 10.4%. The remaining holdings have a market value of over $4.473 billion, making it one of the company's largest external institutional investors.

General Catalyst: Holdings reached 10%, CRCL position is nearly $4.3 billion

General Catalyst is an investor in Circle's Series A and C rounds, and according to documents disclosed by the SEC, its holdings once exceeded 10%. As a continuous investor in Circle from Series A to E, General Catalyst sold approximately 3.55 million shares at a price of $29.3 on June 6, cashing out around $104 million. After the reduction, the firm still holds about 20.12 million shares of CRCL, valued at over $4.29 billion.

ARK Invest: Has reduced holdings to cash out over $350 million, CRCL remains one of the core holdings.

As of June 27, ARK Invest holds approximately $580 million worth of CRCL, with about 2.818 million shares. Among them, the ARK Innovation ETF holds $368 million worth of CRCL, the ARK Next Generation Internet ETF holds $133 million, and the ARK Fintech Innovation ETF holds $78.85 million.

On the day Circle went public, ARK Invest purchased approximately 4.486 million shares of CRCL for the first time, with the holdings valued at around $373 million at that time. Since June 16, the institution has significantly reduced its holdings of CRCL stock, cumulatively reducing about 1,667,000 shares, cashing out approximately $352 million. Despite the substantial reduction, Circle remains one of the important holdings in three major ETFs under ARK Invest.

CEO Jeremy Allaire: Large-scale equity conversion before going public, cashing out over $46 million

Jeremy Allaire is the Chairman and CEO of Circle. He conducted large-scale stock conversions and trading operations prior to the company's public listing, with a stock ratio of 23.7% after the listing. On June 6, Allaire converted all of his 18.59 million shares of Class A common stock into Class B common stock, while also converting over 330,000 shares of Class A common stock to Class B shares through a personal trust.

Allaire also sold over 15,800 Class B common shares on June 6 at an average price of $29.3 per share, cashing out approximately $46.4 million. Additionally, Allaire converted over 18 million Class A stock options into Class B options, with a total exercise period extending to 2033.

Although Jeremy Allaire recently sold some shares and made adjustments to the equity structure, his control over Circle has not been materially affected due to the high voting power of Class B shares, the large option pool, and the family trust holding structure.

Accel: Holdings value exceeds 230 million USD, ownership ratio reaches 5.3%

Accel is one of the key shareholders participating in Circle's multiple rounds of financing. According to publicly disclosed information, Accel originally held 12.816 million shares of CRCL, with a shareholding ratio of 6.9%. During Circle's listing process this round, Accel reduced its shareholding to 10.925 million shares, with a shareholding ratio of 5.3%. Based on the most recent closing price, this is valued at over $230 million.

Breyer Capital: Reduced holdings by 335,000 shares, remaining Holdings value still exceeds $280 million.

Breyer Capital participated in Circle's Series A to D funding rounds. During Circle's IPO, Breyer Capital chose to reduce its holdings by over 335,000 shares. Based on the current market price of $213.6, the market value of this portion of shares has reached $71.6 million. Currently, Breyer Capital still holds 1.336 million shares, with a holding percentage of 6.5%, and the value of its holdings exceeds $285 million.

Oak Investment Partners: After reducing holdings, still holds 5.9%, with a position of 250 million USD.

Oak Investment Partners started supporting Circle as early as 2014, participating in its Series B and C funding rounds. Before Circle went public, Oak reduced its holdings by approximately 209,000 shares of CRCL. Currently, Oak holds over 1.188 million shares, with a holding ratio of 5.9%, and the value of its holdings is approximately $250 million.

FMR: Keep shares unchanged, Holdings value exceeds 280 million USD

FMR is a large investment firm that participated in Circle's $50 million Series C financing. During Circle's IPO process, FMR did not reduce its holdings, maintaining a total of 1.341 million shares, with a voting power ratio of 4.6%. The current value of its holdings exceeds $280 million.

CFO Jeremy Fox-Geen: Cashed out over 5.8 million USD, with Holdings exceeding 1.2 million options.

Jeremy Fox-Geen is the Chief Financial Officer of Circle. He conducted a series of stock transactions on June 5 and June 6, including reducing direct Holdings, increasing common stock and corresponding stock options, as well as selling 200,000 shares. The total cash amount is approximately $5.854 million.

Currently, Jeremy Fox-Geen directly holds approximately 320,000 shares of CRCL common stock, along with about 1.27 million stock options with an exercise price of $10.11, valid for up to 6 years.

Date Rajeev V.: Profit of approximately 1.46 million dollars, indirect Holdings valued at nearly 200 million dollars

Date Rajeev V. is the managing partner of an investment and consulting firm. On June 6, 2025, he increased his indirect holdings of approximately 600,000 shares of CRCL common stock through a non-sale transfer, while selling 50,000 shares of common stock, cashing out approximately $1.465 million.

Currently, Rajeev V indirectly holds about 900,000 shares of CRCL common stock through affiliated entities, estimated to be worth approximately $192 million based on the current CRCL stock price.

CPO Nikhil Chandhok: Cashed out over $22 million, Holdings still over 600,000 shares

Nikhil Chandhok is the Chief Product Officer of Circle. From June 5 to June 6, he sold a total of approximately 758,000 shares of CRCL common stock, realizing about $22.7 million.

Currently, Nikhil Chandhok still holds approximately 606,000 shares of CRCL common stock, which is estimated to be worth about $130 million at the current stock price.