Ark Invest Doubles Down on Crypto Equities with $37M Bullish and Robinhood Purchase
Cathie Wood's Ark Invest made a bold $37 million bet on crypto infrastructure, acquiring $21.2 million in Bullish shares and $16.2 million in Robinhood stock through its ARKK ETF. The move signals conviction in digital asset platforms despite sector-wide declines.
Robinhood saw its third consecutive day of accumulation by Ark, totaling $39 million in buys since Friday. Both stocks fell sharply alongside broader crypto equities—Bullish dropped 6.09% while Robinhood slid 6.54%, with after-hours losses continuing the trend.
The selloff extended across crypto-linked names, with Coinbase and Galaxy Digital falling 5.82% and 10.06% respectively. Market jitters prevailed ahead of the Federal Reserve's Jackson Hole symposium, dragging the Nasdaq down 1.46%.
