ARK Invest, the investment firm led by Bitcoin bull Cathie Wood, snapped up a significant batch of crypto-linked stocks on Wednesday as BTC briefly dipped below $66,000.
ARK purchased 433,806 shares of Robinhood (HOOD) for approximately $33.8 million, according to a trade notification reviewed by Cointelegraph.
The asset manager also boosted its exposure to crypto exchange Bullish (BLSH) and USDC (USDC) issuer Circle (CRCL), acquiring 364,134 shares valued at $11.6 million and 75,559 shares worth $4.4 million, respectively.
The purchases came as all three stocks traded lower on the day, with Robinhood shares sliding nearly 9%, according to TradingView data.
ARK withheld from buying more Coinbase (COIN) shares after dumping $17 million of the stock last week.
Robinhood becomes top crypto holding in ARK’s flagship fund
ARK’s latest Robinhood acquisition coincided with the company’s official testnet launch of the Robinhood Chain, a permissionless layer-2 (L2) blockchain built for financial services and tokenized real-world assets (RWAs).
Earlier this week, Robinhood reported record net revenue of nearly $1.28 billion for the fourth quarter of 2025. While revenue surged 27% year over year, it fell short of Wall Street expectations of $1.34 billion, sending the stock down about 8%.
As of Feb. 11, Robinhood stood as the largest crypto-linked position in ARK’s flagship ARK Innovation ETF (ARKK), accounting for roughly 4.1% of the portfolio, or about $248 million, according to the fund’s data.
Spot Bitcoin ETFs mirror BTC weakness as inflows stall
Broader market weakness has spilled over into US spot Bitcoin (BTC) exchange-traded funds (ETFs), which failed to sustain momentum after a three-day inflow streak.
According to SoSoValue data, Bitcoin ETFs recorded $276.3 million in net outflows on Wednesday, nearly wiping out weekly gains, which now stand at just $35.3 million. Total assets under management declined to $85.7 billion, the lowest level since early November 2024.
Ether (ETH) ETFs also posted losses, with daily outflows totaling $129.2 million. XRP (XRP) funds saw no inflows, while Solana (SOL) ETFs recorded modest inflows of roughly $0.5 million.
Related: Strategy CEO eyes more preferred stock to fund Bitcoin buys
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 comes after analysts had pointed to a potential inflection point in crypto investment products following three consecutive weeks of outflows totaling more than $3 billion.
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