Cathie Wood’s Ark Invest increased its exposure to crypto-linked equities on Wednesday, scooping up roughly $50 million worth of shares in Robinhood, Bullish and Circle as Bitcoin briefly fell under $66,000 and spot Bitcoin ETFs recorded fresh outflows.

According to trade disclosures, Ark purchased 433,806 shares of Robinhood, valued at about $33.8 million. The firm also added 364,134 shares of Bullish, worth $11.6 million, and 75,559 shares of Circle, valued at $4.4 million. The buying spree came as all three stocks were trading lower, with Robinhood sliding nearly 9% during the session.

Related reporting: Bitcoin ETFs Draw New Capital as Early Holders Trim, Not Exit

Notably, Ark did not add to its Coinbase position after trimming roughly $17 million worth of shares the previous week, signaling a selective approach within the crypto equities space.

Robinhood rises as Ark’s largest crypto bet

The latest Robinhood purchase coincided with the company’s testnet launch of Robinhood Chain, a permissionless layer-2 network designed to support financial services and tokenized real-world assets. The development positions Robinhood more directly within the blockchain infrastructure stack, rather than solely as a trading platform.

Robinhood also recently reported fourth-quarter net revenue of $1.28 billion, up 27% year over year but below Wall Street expectations of $1.34 billion. The earnings miss contributed to short-term price pressure.

As of Feb. 11, Robinhood had become the largest crypto-related holding in Ark’s flagship ARK Innovation ETF, accounting for roughly 4.1% of the portfolio, or around $248 million. The weighting underscores Ark’s conviction in Robinhood’s evolving role in digital asset markets.

Source: Robinhood

Bitcoin ETFs see renewed outflows

The broader crypto market pullback has weighed on US spot Bitcoin ETFs, which broke a three-day inflow streak with $276.3 million in net outflows on Wednesday, according to SoSoValue data. Weekly net inflows have narrowed to just over $35 million, while total assets under management dropped to $85.7 billion, the lowest level since early November 2024.

Ether ETFs also posted $129.2 million in daily outflows. XRP funds saw no new inflows, and Solana ETFs recorded modest additions of about $500,000.

Bitcoin was trading near $67,200 at the time of publication, stabilizing after the dip below $66,000. The recent weakness follows three consecutive weeks of more than $3 billion in cumulative ETF outflows, which had raised questions about the durability of institutional demand in the current market cycle.

Daily flows in US spot Bitcoin ETFs. Source: SoSoValue