Cathie Wood’s Ark Invest Scoops Up 2.2M Falling Robinhood Shares

The move came as Robinhood shares dropped roughly 8% on Tuesday after the platform said its crypto revenues fell below expectations.

AccessTimeIconOct 28, 2021 at 3:08 p.m. UTC
Updated May 11, 2023 at 7:03 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Cathie Wood’s ARK Investment Management picked up a large number of Robinhood (NASDAQ: HOOD) shares on Wednesday, despite the stock platform’s earnings report showing poor crypto revenue.

  • The move came as Robinhood shares fell roughly 8% on Tuesday after the zero-commission trading platform missed badly on revenue expectations.
  • ARKK, an exchange-traded fund that seeks to invest in “disruptive innovation,” added 1,728,431 shares to its portfolio with a fund weighting of roughly 0.28%, according to a trade notification on Wednesday.
  • The ARKW fund, which invests primarily in technologies associated with the “next generation internet,” added 320,211 shares Wednesday.
  • Meanwhile, ARKF, a fund that invests in fintech innovation, added 192,038 shares.
  • In total, bitcoin bull Cathie Wood’s funds picked up 2,240,680 shares.
  • Since debuting on the Nasdaq exchange in July, Robinhood shares, trading under the ticker symbol HOOD, have fallen from a peak of $85.
  • HOOD traded at $35.44 as of Wednesday’s market close.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Sebastian Sinclair

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.