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 took place on the same day Robinhood’s stock fell 13.2%, closing at $71.20, after reporting first-quarter results below expectations. The platform’s cryptocurrency revenues and trading volumes declined by nearly 50% during that period, although the company maintained its profitability with a net income of $346 million, up 3% from the previous year.
On the other hand, Ark Invest sold 243,147 shares of the Ark 21Shares Bitcoin ETF from ARKW and ARKF, equivalent to $6.1 million. That same day, the ETF recorded net outflows of $30 million. The broader group of spot bitcoin ETFs in the United States accumulated outflows of approximately $137.8 million; BlackRock’s IBIT led the outflows with $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.
Source: https://www.ark-funds.com/funds/arkk
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