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Ark Invest acquired approximately $39.4 million in Robinhood Markets shares, distributing the purchase of 553,892 shares across its three ETFs: Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF).
The transaction occurred on the same day Robinhood’s stock fell 13.2%, closing at $71.20, after the company reported first-quarter results below expectations. During that period, the platform’s cryptocurrency revenues and trading volumes declined by nearly 50%. Despite the declines, Robinhood maintained profitability, reporting net income of $346 million, up 3% from the previous year.
In addition, Ark Invest sold 243,147 shares of the Ark 21Shares Bitcoin ETF from ARKW and ARKF, equivalent to $6.1 million. On the same day, the ETF recorded net outflows of $30 million. Across the broader U.S. spot bitcoin ETF market, outflows totaled approximately $137.8 million, with BlackRock’s IBIT leading outflows at $54.7 million.
Ark Invest’s ARKB fund holds net assets of approximately $2.4 billion and has accumulated $1.58 billion in net inflows since its launch.
https://www.ark-funds.com/funds/arkk
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