Quick Recap
- Ark Invest just bought $14.2M in Robinhood shares, adding to a $9M purchase made days earlier.
- Robinhood’s cryptocurrency income increased by 98%, indicating a strong tendency in digital assets.
- Ark is clearly betting on the future of crypto, and Robinhood is a big part of that strategy.
Ark Invest Buys More Robinhood Shares, Signals Strong Crypto Confidence
Ark Invest is showing no signs of slowing down when it comes to its belief in crypto and the companies driving it forward. This week, the firm made headlines again by buying $14.2 million worth of Robinhood shares just a few days after spending $9 million on the same stock.
The purchase came through its flagship Ark Innovation ETF (ARKK), which added 123,336 more shares of Robinhood. That brings Robinhood’s weight in the ETF up to 4.09% a noticeable jump that tells us one thing: Ark Invest believes Robinhood has room to grow.
This isn’t just about stock picking. It’s part of a broader trend. Ark is doubling down on digital asset exposure and sees Robinhood as a key player in how everyday people access crypto.
Why Ark Invest Is Backing Robinhood’s Crypto Future
Ark Invest has never been shy about its future-focused investment style, and this move fits right in. It’s not just Robinhood that caught their eye recently; last week, Ark also bought $172 million worth of shares in Bullish, a new crypto exchange that just went public.
So, why the sudden interest?
Well, Robinhood is quickly becoming more than just a stock trading app. In its recent Q2 earnings report, the company revealed that its crypto trading volume grew by 32% year-over-year, hitting $28 billion.
Even more impressive, its crypto transaction revenue nearly doubled up 98% to $160 million.
These are not small numbers.
They show Robinhood is successfully tapping into the crypto market, and that’s exactly the kind of disruptive growth Ark Invest loves to chase.
Robinhood’s Performance Is Backing Ark Invest’s Confidence
It’s not just crypto growth driving Ark Invest’s interest. Robinhood’s stock itself has been on fire.
The stock closed at $115.02 on Monday, up slightly on the day.
Over the past month, it’s gained 4.8%, but the real headline is its year-to-date gain of over 208%. That’s huge, especially in a market that’s been anything but predictable in 2023.
Clearly, Ark Invest sees this momentum as a sign of more to come. Robinhood’s mix of user-friendly tools, no-fee trading, and crypto integration is hitting the right notes for a new generation of investors. And for Ark, that means it’s a long-term growth story worth sticking with.
What This Says About Ark Invest’s Bigger Vision
This isn’t just about Robinhood. It’s about Ark Invest’s overall belief in the future of digital assets. Led by Cathie Wood, Ark has built its brand around investing in innovation from AI and EVs to genomics and, yes, crypto.
Even with the crypto market’s ups and downs, Ark continues to see long-term value. Its moves suggest a belief that crypto isn’t just a passing trend, it’s the foundation of the next era of financial services.
By investing in platforms like Robinhood and Bullish, Ark is putting its money behind the infrastructure of tomorrow’s financial world.
