Cathie Wood-led investment firm Ark Invest bought approximately $39.4 million worth of Robinhood shares across its three exchange-traded funds on Wednesday, while offloading $6.1 million worth of its own spot bitcoin (BTC) ETF.
Ark Invest purchased a total of 553,892 shares of Robinhood Markets Inc. (HOOD) for its Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF) ETFs, according to the company's April 29 trading report. It also sold 243,147 shares of the Ark 21Shares Bitcoin ETF from ARKW and ARKF.
Ark typically adjusts its holdings so that no single stock exceeds 10% of a fund's portfolio, meaning it would actively rebalance weightings when the value of certain assets fluctuates significantly.
According to the firm's latest disclosures, HOOD is the sixth-largest holding within its ARKK fund, with a weighting of 4.3% ($275.3 million), fourth in its ARKW fund (4.6%/$75.6 million), and sixth in its ARKF fund (4.4%/$36.1 million). To put that in perspective, Tesla, Advanced Micro Devices, and Shopify represent the top assets in those funds with weightings of 9.7%, 9%, and 9.4%, at a valuation of $623 million, $148 million, and $77 million, respectively.
The Ark 21Shares Bitcoin ETF remains the third-largest holding in its ARKW fund, with a weighting of 5.7% worth $94.5 million, and second in its ARKF fund (6.4%/$52.5 million).
Shares of Robinhood fell 13.2% to close at $71.20 on Wednesday after the company reported weaker first-quarter earnings on Tuesday. Its crypto revenues and trading volumes dropped by roughly 50% during the first quarter of this year, extending a decline that began at the end of 2025.
Despite the decline in crypto trading, Robinhood remained profitable, posting net income of $346 million in the first quarter, up 3% year-on-year.
Meanwhile, the Ark 21Shares Bitcoin ETF (ARKB) saw a total net outflow of $30 million on Wednesday, while the combined U.S. spot bitcoin ETFs logged $137.8 million in outflows, led by BlackRock's IBIT with $54.7 million.
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Ark's ARKB holds about $2.4 billion in net assets, and recorded $1.58 billion in cumulative net inflows as of yesterday.
Bitcoin traded down 1.3% over the past 24 hours at $76,023, according to The Block's BTC price page.
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