ARK Invest, the investment firm led by longtime Bitcoin advocate Cathie Wood, bought a sizable tranche of crypto-related stocks on Wednesday as Bitcoin briefly fell below $66,000.
According to a trade disclosure reviewed by Cointelegraph, ARK acquired 433,806 shares of Robinhood (HOOD), valued at approximately $33.8 million.
The asset manager also increased its exposure to crypto exchange Bullish (BLSH), purchasing 364,134 shares worth about $11.6 million, and added 75,559 shares of USDC issuer Circle (CRCL), valued at roughly $4.4 million.
The purchases came during a broad pullback in crypto-linked equities. Robinhood shares dropped nearly 9% on the day, according to TradingView.
Notably, ARK did not add to its Coinbase (COIN) position after selling $17 million worth of the stock last week.
Robinhood Now ARK’s Largest Crypto Holding
The Robinhood purchase coincided with the company’s testnet launch of Robinhood Chain, a permissionless layer-2 blockchain designed for financial services and tokenized real-world assets.
Earlier this week, Robinhood reported record fourth-quarter 2025 net revenue of nearly $1.28 billion. While that marked a 27% year-over-year increase, it fell short of Wall Street expectations of $1.34 billion, contributing to an approximately 8% decline in the stock.
As of Feb. 11, Robinhood ranks as the largest crypto-related holding in ARK’s flagship ARK Innovation ETF (ARKK), representing about 4.1% of the fund’s portfolio, or roughly $248 million, according to ARK data.
Spot Bitcoin ETFs See Outflows as Momentum Fades
Weakness in the broader crypto market has also weighed on US spot Bitcoin exchange-traded funds (ETFs), which failed to maintain momentum following a three-day streak of inflows.
Data from SoSoValue shows that Bitcoin ETFs recorded $276.3 million in net outflows on Wednesday, erasing most of the week’s gains. Net weekly inflows now stand at just $35.3 million.
Total assets under management across spot Bitcoin ETFs have fallen to $85.7 billion, marking their lowest level since early November 2024.
Spot Ether ETFs also registered losses, posting $129.2 million in daily net outflows. XRP-focused funds recorded no inflows, while Solana ETFs saw modest net inflows of approximately $500,000.
At the time of publication, Bitcoin was trading at $67,227, up 0.4% over the past 24 hours, according to CoinGecko.
The latest pullback follows optimism among analysts who had suggested crypto investment products might be nearing a turning point after three consecutive weeks of outflows totaling more than $3 billion.
