ARK Invest Buys $21M Bullish (BLSH) and $16M Robinhood (HOOD) Stocks
Cathie Wood’s ARK Invest has doubled down on crypto-linked stocks, snapping up Bullish and Robinhood shares even as the sector faces steep declines.
According to Tuesday’s trade disclosures, ARK Innovation ETF (ARKK) picked up 356,346 shares of Bullish worth $21.2 million and 150,908 shares of Robinhood valued at $16.2 million. The move follows ARK’s massive $172 million Bullish buy last week, signaling unwavering confidence in the company after its high-profile NYSE debut.
ARK Invest Keeps Buying Despite the Dip
ARK has been aggressively adding Robinhood stock for three straight sessions, grabbing $14 million worth on Monday and another $9 million last Friday. This marks a sharp reversal from 2024, when ARK was forced to sell Robinhood holdings due to SEC exposure limits.
But the timing is bold. On Tuesday, Bullish fell 6.09% to $59.51 (down another 3.24% after hours) while Robinhood slipped 6.54% to $107.50 with further post-market losses.
Crypto Equities Face Sector-Wide Pressure
The buys come during a broad crypto-equity sell-off. Major players like Coinbase, Galaxy Digital, MicroStrategy, and Circle also posted heavy losses. The Nasdaq Composite slid 1.46%, reflecting fading optimism after last week’s rate-cut hype.
For Cathie Wood, however, the pullback looks like a buying opportunity. ARK’s latest moves suggest the firm is betting big on a long-term rebound in crypto and fintech stocks.
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