ARK Invest, led by Cathie Wood, recently made a large purchase of shares in US financial services company Robinhood (HOOD), one day after the popular trading platform announced their plans to expand into Europe. At a total valued at $9.54 million, the purchase was shared between ARK Innovation ETF, ARK Next Generation Internet ETF and ARK Fintech Innovation ETF. Although shares in Robinhood are up 2.7% year-to-date, they have not kept up with the 110% surge in bitcoin prices. In addition to Robinhood purchases, ARK Next Generation Internet ETF also sold 48,477 units of GBTC, worth $1.34 million, late last month. GBTC shares have seen a 235% rally this year, outperforming bitcoin and US stock market indices. Traders hope that the US Securities and Exchange Commission will eventually approve the conversion of the trust into a spot-based ETF.



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