Ark Invest buys approximately $9.54 million more in Robinhood shares
TechFlow news, according to CoinDesk, Cathie Wood's fund Ark Invest purchased a total of 1,141,046 shares of Robinhood stock on Wednesday through its ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF. Based on Wednesday's closing price of $8.36, the total value of this acquisition amounted to $9.54 million.
In its third-quarterearnings report released on Tuesday, Robinhood stated: "We will soon launch brokerage services in the UK." The company added: "As another step in our global expansion, we also plan to roll out cryptocurrency trading in the European Union following our launch in the UK."
In addition, the ARK Next Generation Internet ETF sold 48,477 shares of GBTC, worth $1.34 million. At the end of last month, the fund sold 72,509 shares of GBTC. Nevertheless, GBTC remains the largest holding in the ETF, with a weight of 9.88%.
