Ark Invest increases holdings of Robinhood stock by $39.4 million and reduces holdings of Bitcoin ETF by $6.1 million

According to The Block, Ark Invest, a subsidiary of Cathie Wood, bought approximately $39.4 million worth of Robinhood stock on April 29th and sold approximately $6.1 million worth of its own spot Bitcoin ETF Ark 21Shares Bitcoin ETF. Robinhood's stock price fell 13.2% to close at $71.20 due to weak first quarter financial reports. The Ark 21Shares Bitcoin ETF had a net outflow of $30 million on the same day, while the US spot Bitcoin ETF had a total net outflow of $137.8 million.