Cathie Wood’s fund increases exposure to crypto-linked equities amid market rebound
Ark Invest, led by Cathie Wood, has continued its aggressive bet on Robinhood Markets (HOOD), acquiring an additional $14.2 million worth of shares on Monday. The move follows a $9 million purchase last Friday, underscoring the firm’s confidence in the online brokerage’s long-term role in the digital asset economy.
According to Ark’s latest trading disclosure, the Ark Innovation ETF (ARKK) purchased 123,336 shares of Robinhood, lifting the stock’s weighting to 4.09% of the fund’s total holdings. This increased exposure reflects Wood’s broader strategy of maintaining strong positions in companies tied to the crypto and fintech ecosystem.
Last week, Ark also executed a $172 million buy of Bullish shares across three ETFs after the crypto exchange debuted on the New York Stock Exchange. Together, these moves signal Ark’s continued conviction in the growth trajectory of digital asset infrastructure stocks.
Robinhood has been benefiting from a surge in trading activity. Its crypto trading volume jumped 32% year-over-year to $28 billion in the second quarter, while transaction-based crypto revenue surged 98% to $160 million, according to its most recent earnings report.
A market strategist commented, “Ark’s decision to double down on Robinhood highlights the growing relevance of trading platforms as gateways for retail participation in digital assets.”
Market Performance
Shares of Robinhood closed 0.74% higher at $115.02 on Monday, data from Yahoo Finance shows. The stock has advanced 4.8% over the past month and delivered an impressive 208.7% year-to-date gain, making it one of the standout performers among U.S. financial technology equities.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.