Cathie Wood’s ARK bags 1.1M Robinhood shares in one day

ARK Invest, the financial investment firm established by major Bitcoin (BTC) supporter Cathie Wood, is actively accumulating stock of the crypto-friendly app Robinhood (HOOD). On Nov. 8, ARK made a massive Robinhood stock purchase, bagging an overall of 1.1 million shares for about $9.5 million in one day, according to a trade notice seen by Cointelegraph.The purchase involved 3 development exchange-traded funds (ETF) managed by ARK, consisting of ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF). ARKK has designated the biggest amount of shares in the purchase, purchasing 888,500 HOOD shares, or 78% of the whole day-to-day buy. ARKW and ARKF allocated 152,849 shares and 99,697 shares, respectively.The mega purchase followed consistent Robinhood equity-buying by ARK, though the most recent purchases included significantly smaller sized purchases. On Oct. 23, ARK acquired 197,285 Robinhood shares for its ARKW funds, following a 259,628 HOOD buy on the previous day.Related: Cathie Woods ARK sells Grayscale Bitcoin Trust shares as BTC hits $34KThe newest buy came as Robinhood on Nov. 8 disclosed plans to broaden into Europe in the coming weeks, especially exploring developing brokerage operations in the United Kingdom. The announcement accompanied the HOOD stock plunging over 14% after the online brokerage reported worse-than-expected outcomes as trading activity and users declined. According to data from TradingView, Robinhood closed at $8.37 on Nov. 8. Robinhood (HOOD) five-day rate chart. Source: TradingViewWhile actively buying Robinhood, ARK has actually continued to sell Grayscale Bitcoin Trust (GBTC) shares, with ARKW discarding another 48,477 GBTC for $1.4 million on Nov. 8. On Nov. 6, ARKW sold another large portion of GBTC of 139,506 shares, worth almost $4 million.ARK began selling GBTC shares in late October 202, following a years break from touching the GBTC stock. Since Oct. 24, ARK has actually sold a total of 427,573 GBTC shares, worth about $11.9 million at the time of composing. The purchase amount is nearing the amount of GBTC shares offered by ARK in November 2022. ARK has concurrently also revealed the launch of brand-new ETFs focused on Bitcoin and Ether futures contracts in partnership with its major crypto ETF partner, 21Shares. According to joint prospectuses, the firms anticipate to release trading of 5 brand-new crypto products on the Chicago Board Options Exchange on by Nov. 16. Magazine: How to protect your crypto in a volatile market– Bitcoin OGs and specialists weigh in