ARK Invest Pours $39 Million Into Robinhood Stock While Trimming Bitcoin ETF Exposure

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ARK Invest purchased approximately $39.4 million worth of Robinhood Markets shares on April 29, simultaneously offloading around $6.1 million of its own ARK 21Shares Bitcoin ETF, according to the firm’s daily trading disclosures. 

The trades arrived one day after Robinhood reported a 47% year-over-year decline in first-quarter crypto revenue, with ARK using the post-earnings selloff as an entry point to extend a position it has held across multiple funds.

ARK Spreads $39 Million HOOD Purchase Across Three Flagship Funds

Cathie Wood’s firm acquired 553,892 HOOD shares distributed across the ARK Innovation ETF, the ARK Next Generation Internet ETF, and the ARK Fintech Innovation ETF. The purchase follows Robinhood’s Q1 earnings report, in which the brokerage posted total revenue of $1.07 billion, falling short of the $1.17 billion analyst consensus. 

The revenue miss was driven primarily by a steep contraction in crypto trading activity, though Robinhood’s overall net income still rose 3% to $346 million. HOOD already ranks among the top six holdings across all three ARK funds, and Wood’s firm has previously bought the stock during sharp price declines earlier in 2026.

ARKB Sale Coincides With $138 Million Exit From U.S. Spot Bitcoin ETFs

On the sell side, ARK divested 243,147 shares of ARKB from ARKW and ARKF, reducing its equity funds’ direct Bitcoin exposure. The fund itself recorded $30 million in net outflows on April 29, part of a broader $137.8 million withdrawal from U.S. spot Bitcoin ETFs that day, with BlackRock’s IBIT among the funds recording outflows, according to daily ETF flow data. 

The April 29 outflows reflect a broader cooling in spot Bitcoin ETF demand that has periodically punctuated what has otherwise been a strong inflow cycle for the asset class since the products launched in early 2024. 

The simultaneous buying of a crypto-adjacent equity while trimming direct BTC exposure reflects a pattern ARK has demonstrated previously, rotating between these two categories rather than making an outright directional call on Bitcoin’s near-term price.

ARK’s April Trades Follow an Established BTC-to-Equity Rotation Pattern

The April 29 trades follow a recognizable ARK template: selling Bitcoin ETF exposure and redeploying capital into equities with significant crypto revenue dependence, such as Robinhood, rather than signalling a negative view on Bitcoin. 

Wood, who has maintained a long-term $1 million Bitcoin price target, has not commented on whether the ARKB sale reflects any change in that view. The purchase could be read as a signal that ARK views the revenue decline as cyclical rather than structural, though the firm has not commented.

Robinhood’s Crypto Revenue Slump Sets the Stage for ARK’s Conviction Buy

ARK has consistently used sharp price drops in high-conviction holdings to build positions. The Robinhood trade fits that pattern: an earnings miss, a falling share price, and net income that held up. 

These are all conditions ARK has previously treated as entry signals. But whether ARK continues accumulating HOOD into further weakness will become clearer in subsequent daily disclosures from the firm.