- Cathie Wood’s Ark Invest bought $21.3 million in Robinhood stock across two flagship ETFs.
- The purchase pushed Robinhood’s shares up over 6% amid its growing expansion into crypto.
- The move reinforces Ark’s ongoing strategy of deepening exposure to digital asset–focused firms.
Robinhood’s stock jumped 5.6% in Wednesday trading, with further gains in pre-market hours following a new round of buying from Ark Invest, led by CEO Cathie Wood.
According to Ark’s October 22 daily trade disclosure, the firm purchased $21.3 million worth of Robinhood (HOOD) shares across two of its top funds. The Ark Innovation ETF (ARKK) acquired 131,049 shares, while the Ark Next Generation Internet ETF (ARKW) added 36,440 shares. Together, Robinhood now represents nearly 19% of both funds’ combined holdings.
This strategic move underscores Ark’s confidence in Robinhood’s long-term growth potential, especially as the trading platform expands deeper into the crypto sector.
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Robinhood expands crypto footprint
Once known primarily for its retail stock-trading app, Robinhood has transformed into a key player in the digital asset ecosystem.
In 2025, the firm acquired WonderFi, boosting its presence in Canada, and purchased Bitstamp, gaining access to a global exchange license and institutional order books. Robinhood has also begun developing its own Layer-2 blockchain on Arbitrum and recently added BNB trading to its platform.
These steps align with CEO Vlad Tenev’s vision to make Robinhood a “borderless, multi-asset financial platform,” blurring the lines between traditional and decentralized finance.
Ark’s crypto exposure continues to grow
Ark’s latest Robinhood investment is part of a broader strategy to increase exposure to crypto-linked equities and products.
Earlier this year, the firm filed for two Bitcoin ETFs the Bitcoin Yield ETF and ARK DIET Bitcoin 1 and 2 ETFs designed to provide institutional investors with yield opportunities and downside protection.
Beyond Robinhood, Ark Invest’s portfolio includes positions in Coinbase, Bullish, and BitMine, with Coinbase remaining its largest crypto-related holding.
The Robinhood purchase reinforces Wood’s conviction that the intersection of fintech and blockchain will continue to drive innovation and long-term investor returns, especially as traditional financial markets converge with decentralized technologies.
