ARK Invest Doubles Down on Crypto, Buys into BitMine as Robinhood Sales Generate Gains

Cathie Wood’s ARK Invest made significant moves in the stock market yesterday, increasing its holdings in cryptocurrency firm BitMine while selling off shares of Robinhood. The investment firm purchased $4.46 million worth of BitMine shares across three of its ETFs: ARKK, ARKW, and ARKF. In contrast, they sold a substantial amount of Robinhood stock, generating gains after the platform’s recent addition to the S&P 500 index led to a significant price jump.