Cathie Wood’s Crypto Shuffle: Pours $5.2 Million Into Newly Listed Solana Staking Fund, Dumps Bitcoin ETF And Buys Robinhood Dip
On Wednesday, Cathie Wood-led Ark Invest made significant trades, notably acquiring shares in Robinhood Markets Inc. (NASDAQ:HOOD), ARK 21Shares Bitcoin ETF (BATS:ARKB), and 3iQ Solana Staking ETF.
The Robinhood Trade
Ark Invest’s flagship fund, ARK Innovation ETF (NYSE:ARKK), purchased 60,266 shares of Robinhood Markets Inc. on Wednesday. The trade, valued at approximately $2.45 million, was made as Robinhood’s stock faced a sharp decline. The stock closed at $40.66, down 7.76% on Wednesday following Powell’s remarks about inflation and trade tariffs, which spooked the market. Robinhood, heavily reliant on retail trading, is particularly sensitive to such market volatility. Robinhood’s user base, largely consisting of retail investors, may reduce trading activity in uncertain environments, adding pressure on the company’s performance.
The ARK 21Shares Bitcoin ETF Trade
In another notable move, ARK Next Generation Internet ETF (NYSE:
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