Add as a preferred source on GoogleARK Funds Add 99,418 Robinhood Shares After Crypto Revenue Falls
Three ARK ETFs made the purchases on Oct. 28, as Robinhood’s cryptocurrency revenue fell 55% year over year to $120 million.
ARK Invest-managed ETFs bought 99,418 shares of Robinhood Markets on Wednesday, Oct. 28, after the trading platform’s third-quarter results showed cryptocurrency revenue had fallen 55% year over year.
ARK Innovation ETF (ARKK) bought 69,604 shares, ARK Next Generation Technology ETF (ARKW) bought 17,699 and ARK Blockchain & Fintech Innovation ETF (ARKF) bought 12,115.
Robinhood’s third-quarter results showed total net revenue rose 12% from a year earlier to $1.42 billion. Cryptocurrency revenue fell to $120 million, while event-contract revenue reached $173 million, more than six times its year-earlier level.
“Customers are trusting us with more of their assets as we deliver on our product roadmap, leading to our highest quarter ever for revenues,” Robinhood Chief Financial Officer Shiv Verma said.
The purchases were made through ARK-managed ETFs. The disclosures give no reason for the trades and do not establish that Cathie Wood personally placed them.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.