Overview
- ARK Invest increased its Robinhood position across its ARKK, ARKW, and ARKF funds, with the purchases, executed Wednesday, totaling 553,892 shares worth about $39–40 million.
- In the same session, ARK sold 243,147 shares of its ARK 21Shares Bitcoin ETF for roughly $6.1 million, a modest cut relative to the ETF’s multi‑billion‑dollar asset base.
- The trades followed Robinhood’s weaker first‑quarter update, where crypto trading slumped and the stock fell about 13%, even as the broker posted $346 million in profit, up 3% year over year.
- Robinhood now carries multi‑percent weights across ARK’s funds, while ARKB remains a top holding even after the trim, underscoring a tilt rather than a broad pullback from crypto exposure.
- U.S. spot bitcoin ETFs recorded about $137.8 million in net outflows Wednesday, led by BlackRock’s IBIT, as several Wall Street firms argued Robinhood’s crypto softness could be temporary and pointed to stronger April equity and options volumes and potential new products such as a planned prediction markets platform.