ARK Make investments 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 every day filings, break 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 Purchased the Robinhood Dip
Cathie Wooden’s agency picked up 553,892 HOOD shares throughout the ARK Innovation ETF (ARKK), the ARK Subsequent Era Web ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF).
The transfer comes after Robinhood revealed a 47% drop in crypto income throughout 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 web earnings nonetheless climbed 3% to $346 million.
HOOD already ranks among the many prime six positions in all three ARK funds, and Wooden beforehand purchased the inventory throughout sharp drawdowns earlier in 2026.
ARKB Trim Tracks Wider ETF Outflows
On the promote facet, 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 web 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 matches ARK’s sample of rotating between crypto-adjacent equities and direct BTC publicity somewhat than a directional name on Bitcoin (BTC).
Wooden, who maintains a long-term $1 million BTC goal, 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 droop.
The submit ARK Make investments Ditches $6 Million in Crypto ETFs For $39 Million HOOD Shares After Shaky Robinhood Earnings appeared first on BeInCrypto.