{"id":82621,"date":"2023-11-09T13:28:46","date_gmt":"2023-11-09T18:28:46","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/ark-invest-adds-9-5m-worth-of-robinhood-shares-to-its-innovation-portfolios\/"},"modified":"2023-11-09T13:28:52","modified_gmt":"2023-11-09T18:28:52","slug":"ark-invest-adds-9-5m-worth-of-robinhood-shares-to-its-innovation-portfolios","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=82621","title":{"rendered":"ARK Invest Adds $9.5M Worth of Robinhood Shares to Its Innovation Portfolios"},"content":{"rendered":"<div>\n<figure id=\"attachment_129393\" aria-describedby=\"caption-attachment-129393\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-129393\" class=\"wp-caption-text\"><em>Source: Adobe<\/em><\/figcaption><\/figure>\n<p>Popular crypto-friendly investment firm ARK Invest has significantly increased its stakes in the commission-free investing app Robinhood.<\/p>\n<p>According to a November 8 investment sheet posted online, the investment firm secured 1,141,046 units of Robinhood shares, amounting to a substantial $9.5 million investment within a 24-hour window.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">CATHIE WOOD <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/search?q=%24ARKK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ARKK<\/a> HAS BOUGHT THE DIP ON ROBINHOOD <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/search?q=%24HOOD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$HOOD<\/a><\/p>\n<p>1,141,046 SHARES AS <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/search?q=%24HOOD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$HOOD<\/a> FELL 15% TODAY <a rel=\"nofollow\" href=\"https:\/\/t.co\/17XeZuoQ4Q\">pic.twitter.com\/17XeZuoQ4Q<\/a><\/p>\n<p>\u2014 amit (@amitisinvesting) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/amitisinvesting\/status\/1722422379379392785?ref_src=twsrc%5Etfw\">November 9, 2023<\/a><\/p>\n<\/blockquote>\n<p>The purchase was distributed unevenly across its three popular innovation exchange-traded funds (ETFs), which include ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).<\/p>\n<p>Among these innovation portfolios, ARKK acquired the majority of Robinhood shares, with 888,500 units, accounting for 78% of the stock total.<\/p>\n<p>ARKW secured the next highest amount with 152,849 shares, while ARKF received 99,697 shares.<\/p>\n<p>ARK Invest, managed by pro-crypto advocate and investor Cathie Wood, has been paying close attention to the Robinhood platform in recent months.<\/p>\n<p>The tech investment company purchased 197,285 Robinhood shares through its ARKW funds on October 23. Prior to that, it bought a sizable 259,628 shares in the retail-friendly investment platform.<\/p>\n<p>Wood\u2019s growing investment portfolio within the Robinhood platform follows a 15% drop in the company\u2019s shares in the last 24 hours.<\/p>\n<p>This saw Robinhood dropping to $8.39 at the time of writing. The investment app\u2019s bearish decline followed a massive decline in its customer base in the past year.<\/p>\n<p>According to a post on X (formerly Twitter), Robinhood\u2019s monthly active users fell 16% year-over-year (YoY) to 10.3 million in the third quarter of 2023.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Robinhood stock <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/search?q=%24HOOD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$HOOD<\/a> is down 14% today after earnings came out.<\/p>\n<p>Monthly active users fell 16% YoY to 10.3 million in the third quarter.<\/p>\n<p>Revenue was hurt by a 13% decline in third-quarter transaction revenue tied to stock trading. Crypto trading dropped 55% year-over-year.\u2026 <a rel=\"nofollow\" href=\"https:\/\/t.co\/o3hch0OepR\">pic.twitter.com\/o3hch0OepR<\/a><\/p>\n<p>\u2014 Stas Serfes (@StasTalksStocks) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/StasTalksStocks\/status\/1722320815109095635?ref_src=twsrc%5Etfw\">November 8, 2023<\/a><\/p>\n<\/blockquote>\n<p>Moreso, the stock and crypto trading app\u2019s revenue also took a massive hit, dipping 13% in third-quarter transaction revenue in its stocks division.<\/p>\n<p>On the other side of the platform, crypto trading dropped 55% YoY, painting a dreary picture for the Robinhood ecosystem.<\/p>\n<p>Overall, the Robinhood service suffered an 11% decline in transaction-based revenue.<\/p>\n<h2>ARK Set to Launch Five Crypto Products \u2013 GBTC in Cross-fire?<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>ARK Invest has been increasing its Robinhood shares holdings while reducing its investments in other assets. One notable instance is the sale of a significant portion of Grayscale\u2019s GBTC fund.<\/p>\n<figure id=\"attachment_129392\" aria-describedby=\"caption-attachment-129392\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-129392\" class=\"wp-caption-text\"><em>Source: Twitter\/Amitisinvesting<\/em><\/figcaption><\/figure>\n<p>According to an image shared on <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/amitisinvesting\/status\/1722422379379392785\/photo\/2\">X (formerly Twitter),<\/a> ARK Invest sold off 48,477 worth $1.4 million of the Grayscale Bitcoin Investment Trust (GBTC) fund on November 8.<\/p>\n<p>Prior to this, it liquidated 139,506 GBTC shares, worth roughly $4 million on November 6.<\/p>\n<p>While observers may be curious about the motivations behind these moves, ARK Invest is gearing up to launch its in-house cryptocurrency-based products.<\/p>\n<p>In an official announcement on its X handle, the firm has partnered with exchange-traded product (ETP) provider 21Shares to introduce a Digital Asset ETF Suite.<\/p>\n<p>\u200b\u200bhttps:\/\/twitter.com\/21shares_funds\/status\/1722267366409826654<\/p>\n<p>According to the joint statement released by both investment firms, the new service will comprise five ETF products and launch on November 16.<\/p>\n<p>In addition, it will be listed on the Chicago Board Options Exchange (CBOE) and will target high-net-worth investors.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/ark-invest-adds-9-5m-worth-of-robinhood-shares-to-its-innovation-portfolios.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Adobe Popular crypto-friendly investment firm ARK Invest has significantly increased its stakes in the commission-free investing app Robinhood. According to a November 8 investment sheet posted online, the investment firm secured 1,141,046 units of Robinhood shares, amounting to a substantial $9.5 million investment within a 24-hour window. CATHIE WOOD $ARKK HAS BOUGHT THE DIP [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":82622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-82621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ARK Invest Adds $9.5M Worth of Robinhood Shares to Its Innovation Portfolios | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Adobe Popular crypto-friendly investment firm ARK Invest has significantly increased its stakes in the commission-free investing app Robinhood.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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