Cathie Wood's ARK Bets $39 Million On Robinhood: What Is Going On?

ARK Bought The Dip At $71

The firm also sold 243,147 shares of the ARK 21Shares Bitcoin ETF from ARKW and ARKF.

HOOD is now the sixth-largest holding in ARKK with a 4.3% weighting worth $275.3 million, fourth in ARKW at 4.6% worth $75.6 million, and sixth in ARKF at 4.4% worth $36.1 million.

For perspective, Tesla, Advanced Micro Devices, and Shopify represent the top assets in those funds with weightings of 9.7%, 9%, and 9.4%.

ARK typically adjusts holdings so no single stock exceeds 10% of a fund’s portfolio, actively rebalancing when asset values fluctuate significantly.

Why Wood Is Buying While Others Sell

Robinhood crashed after reporting Q1 crypto revenue plunged 47% to $134 million and trading volumes dropped 48%.

The company remained profitable with net income of $346 million, up 3% year-over-year.

Bernstein its $130 price target, arguing the weak Q1 was already priced in.

The firm pointed to upcoming catalysts including the mid-2026 Rothera exchange launch and Trump Accounts, which already have 5.5 million sign-ups out of 60 million eligible children.

Moreover, Cathie Wood recently her $730,000 base case Bitcoin target for 2030 on The Rollup podcast, with a $1.5 million bull scenario. She argued that gold is leading Bitcoin as in past cycles, while falling inflation and early Fed easing could fuel the next rally.

The Bitcoin ETF Outflow Context

The ARK 21Shares Bitcoin ETF saw $30 million in net outflows Wednesday as combined U.S. spot Bitcoin ETFs logged $137.8 million in outflows, led by BlackRock’s IBIT with $54.7 million.

The ARK 21Shares Bitcoin ETF remains the third-largest holding in ARKW with a 5.7% weighting worth $94.5 million and second in ARKF at 6.4% worth $52.5 million.

The Technical Damage

Robinhood closed at $71.20 Wednesday, erasing the entire April recovery from $63 to $93 in just two days. Price is sitting right at the $70 to $71 horizontal support that held during February and March lows.

All four EMAs sit well above price: 20 EMA at $79.96, 50 EMA at $81.16, 100 EMA at $88.76, and 200 EMA at $91.35.

Support sits at $70 to $71, then $63 (yearly low). Resistance clusters at $79.96 (20 EMA), then $81.16 (50 EMA). Hold $70 or this goes back to $63 fast.

Image: Shutterstock