ARK Invest Ditches $6 Million in Crypto ETFs For $39 Million HOOD Shares After Shaky Robinhood Earnings
ARK Invest spent about $39.4 million on Robinhood Markets (HOOD) shares on April 29 whereas promoting roughly $6.1 million of its personal ARK 21Shares Bitcoin ETF (ARKB), utilizing the brokerage’s post-earnings slide so as to add to a long-running place.
The trades, disclosed in ARK’s each day filings, cut up throughout the agency’s three flagship innovation funds and got here a day after the brokerage reported a 47% year-over-year drop in first-quarter crypto income.
Why ARK Bought the Robinhood Dip
Cathie Wood’s agency picked up 553,892 HOOD shares throughout the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF).
The transfer comes after Robinhood revealed a 47% drop in crypto revenue during its Q1 report, as whole income ($1.07 billion) fell wanting the $1.17 billion analyst consensus.
The shortfall traced again to a steep pullback in Robinhood’s crypto buying and selling exercise, though general internet earnings nonetheless climbed 3% to $346 million.
HOOD already ranks among the many prime six positions in all three ARK funds, and Wood beforehand purchased the inventory throughout sharp drawdowns earlier in 2026.
ARKB Trim Tracks Wider ETF Outflows
On the promote aspect, ARK offloaded 243,147 shares of ARKB from ARKW and ARKF, leaving its fairness ETFs with smaller direct Bitcoin publicity.
The fund itself logged $30 million in internet outflows on April 29, a part of a $137.8 million exit throughout U.S. spot Bitcoin ETFs led by BlackRock’s IBIT.
The rebalance suits ARK’s sample of rotating between crypto-adjacent equities and direct BTC publicity reasonably than a directional name on Bitcoin (BTC).
Wood, who maintains a long-term $1 million BTC target, has not commented publicly on the trades. The subsequent ARK disclosure will present whether or not the agency continued shopping for into Robinhood’s earnings-driven stoop.
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