ARK Invest Buys $34M of Robinhood, Bullish and Circle Shares as Bitcoin Dips
ARK Invest purchased a sizable stake in crypto-related stocks as Bitcoin fell below $66,000. The firm acquired 433,806 Robinhood (HOOD) shares for about $33.8 million, 364,134 Bullish (BLSH) shares (~$11.6M) and 75,559 Circle (CRCL) shares (~$4.4M). The buys came while the three stocks were trading lower (Robinhood down ~9%) and after ARK reduced its Coinbase (COIN) position last week by selling roughly $17M. Robinhood is now the largest crypto-linked holding in ARK’s ARK Innovation ETF (ARKK), representing ~4.1% (~$248M) of the fund. The purchases coincided with Robinhood’s testnet launch of Robinhood Chain (an L2 focused on financial services and tokenized real-world assets) and the company reporting record Q4 2025 net revenue of $1.28B, which missed Street estimates and pressured the stock. Broad market weakness extended to US spot Bitcoin ETFs, which saw $276.3M of net outflows on the day and reduced total AUM to $85.7B—the lowest since early Nov 2024. Ether ETFs recorded $129.2M in outflows; Solana funds had modest inflows. At publication, BTC traded near $67K. For traders: ARK’s accumulation signals institutional interest in crypto-adjacent equities despite ETF outflows and BTC weakness; Robinhood becoming ARK’s top crypto holding may boost demand for HOOD shares but ETF outflows and revenue misses introduce short-term volatility.
Neutral
The news is market-neutral overall. Positive: ARK Invest buying $34M+ of Robinhood, Bullish and Circle signals institutional conviction in crypto-adjacent equities and may support HOOD and other holdings over time. Robinhood’s testnet launch and record revenue (despite missing estimates) are constructive fundamentals. Negative: the purchases occurred amid a BTC pullback and significant US spot Bitcoin ETF outflows ($276M), which undermine near-term market sentiment. Robinhood’s Q4 revenue miss and the ETF withdrawals increase volatility risk. Historical parallels: institutional accumulation in crypto stocks during dips (e.g., large fund buys in 2021–2022) often provides support over weeks to months but does not prevent short-term ETF-driven price swings. For traders: expect potential short-term volatility in HOOD and crypto ETFs; ARK’s buys could attract momentum-driven buyers and spark sectoral interest, but macro/ETF flow pressures could keep crypto spot and ETF prices pressured until inflows resume. Monitor ETF flows, BTC price action, and any further ARK filings for follow-up trades.