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Ark Invest spent 14.2 million USD to buy Robinhood shares.
Ark Invest of Cathie Wood purchased 123,336 shares of Robinhood worth 14.2 million USD on Monday, after spending an additional 9 million USD on the same stock the previous Friday.
The deal helped Robinhood's stake in the Ark Innovation ETF (ARKK) increase to 4.09%. This move follows Ark's purchase of 172 million USD worth of Bullish shares last week, indicating a strategy to continue expanding into the digital asset space.
Robinhood reported that its crypto trading volume for Q2 reached 28 billion USD (, up 32% year-over-year ), with revenue from crypto trading increasing by 98% to 160 million USD. The company’s stock closed at 115.02 USD on Monday, up 208.7% year-to-date.