ARK Invest spent about $39.4 million in Robinhood Markets (HOOD) shares on April 29 while selling about $6.1 million of its ARK 21Shares Bitcoin ETF (ARKB), using a post-brokerage earnings tranche to add to a long position.
The deals, revealed in daily ARK filings, were split across the firm’s three main innovation funds, and came a day after the brokerage reported a 47% year-on-year decline in cryptocurrency revenue in the first quarter.
Why did ARK buy Robinhood Dip?
Cathie Wood acquired 553,892 shares of HOOD stock via the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
The move comes after Robinhood revealed a 47% decline in cryptocurrency revenue during the first quarter reportwith total revenue ($1.07 billion) falling short of the analyst consensus of $1.17 billion.
The shortfall is due to a sharp decline in cryptocurrency trading activity at Robinhood, although overall net income still rose 3% to $346 million.
HOOD already ranks among the top six in all three ARK funds, and Wood previously bought the stock during a sharp drawdown earlier in 2026.
ARKB Trim tracks the broader outflows of ETFs
On the sell side, ARK unloaded 243,147 shares of ARKB from ARKW and ARKF, leaving its stock ETFs with a smaller direct exposure to Bitcoin.
The fund itself recorded a net outflow of $30 million on April 29, part of a $137.8 million exit across U.S.-traded bitcoin ETFs. Led by BlackRock’s IBIT.
The rebalancing fits into ARK’s style Alternating between stocks adjacent to cryptocurrencies And direct exposure to BTC rather than a directional call on Bitcoin (BTC).
Wood, who maintains A Long term goal of 1 million BitcoinHe did not comment publicly on the deals. ARK’s next disclosure will show whether the company continues to buy into the slump caused by Robinhood’s earnings.
this post ARK Invest dumps $6 million in cryptocurrency ETFs for $39 million in HOOD shares after Robinhood’s shaky earnings appeared first on BeInCrypto.
