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<p><em><strong>ARK Invest, a well-known investment management company led by Cathie Wood, has started selling off large amounts of Robinhood (HOOD) stock. Robinhood is famous for its brokerage services that are friendly towards cryptocurrencies.</strong></em></p><h2 id="header-0">Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>On March 25, ARK Invest sold 1.6 million shares of Robinhood across three of its funds. This amounted to approximately $31.5 million based on Robinhood’s closing price of $19.08 on Tuesday, according to data from  <a href="https://www.tradingview.com/symbols/NASDAQ-HOOD/" rel="noopener noreferrer nofollow">TradingView shows</a>.</p><h2 id="header-1">ARK Invest Initiates Sell-Off of Robinhood Shares</h2><p>Led by Cathie Wood, <a href="https://cryptosheadlines.com/ark-invest-sells-coinbase-and-grayscale-in-bitcoin-boom/" rel="noopener noreferrer nofollow">ARK Invest recently began selling</a> off Robinhood shares primarily through its ARK Innovation ETF (ARKK). This move saw the fund offloading 1,247,181 shares of Robinhood, totaling approximately $24 million. Additionally, ARK sold 275,933 Robinhood shares from its Next Generation Internet ETF (ARKW) and another 128,137 shares from the Fintech Innovation ETF (ARKF).</p><p>This significant sell-off marks <a href="https://cryptosheadlines.com/how-ark-invests-new-bitcoin-etf-filing-benefits-btc-price/" rel="noopener noreferrer nofollow">ARK Invest’s</a> largest reduction in its holdings of Robinhood shares since the firm started accumulating HOOD stock aggressively last year. Notably, <a href="https://cryptosheadlines.com/dogwifhat-wif-price-surges-200-as-robinhood-adds-support/" rel="noopener noreferrer nofollow">Robinhood’s price surged</a> by 36% in the past 30 days, reflecting substantial success for the company.</p><p>Prior to this substantial sale, ARK had been gradually decreasing its holdings of Robinhood shares in smaller increments, driven partly by compliance with Rule 12d3-1. This rule restricts funds from holding securities exceeding 5% of their total asset value.</p><p>Following the sale of $24 million worth of Robinhood shares, ARKK now considers HOOD as its eighth-largest asset, comprising 4.3% of its total assets under management, valued at $8.2 billion.</p><h2 id="header-2">Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>As of March 26, the top three assets in ARK’s ARKK portfolio are Coinbase (COIN) at 10.6%, Tesla (TSLA) at 8.4%, and Roku (ROKU) at 7.5%.</p><p><a href="https://cryptosheadlines.com/jasmycoin-jasmy-surges-12-following-panasonic-partnership/" rel="noopener noreferrer nofollow">Also Read:   JasmyCoin (JASMY) Surges 12% Following Panasonic Partnership</a></p><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/03/cryptosheadlines005-11.webp?resize&#61;640%2C422&amp;ssl&#61;1" /></p><p><em>ARKK’s top nine assets by value as of March 26, 2024. Source: <a href="https://www.ark-invest.com/" rel="noopener noreferrer nofollow">ARK Invest</a></em></p><h2 id="header-3">ARK Invest Buys Roblox Shares, Sells Coinbase Holdings</h2><p>As ARK Invest executed the sell-off of Robinhood shares, it simultaneously increased its position in the online gaming platform Roblox (RBLX). On March 25, the <a href="https://cryptosheadlines.com/25-of-investment-firms-appoint-senior-execs-for-digital-assets-report/" rel="noopener noreferrer nofollow">investment firm</a> acquired 740,115 Roblox shares across three of its funds: ARKK, ARKW, and ARKF. These shares amounted to a total value of $27 million based on Monday’s closing price.</p><p>In addition to purchasing Roblox shares, ARK Invest continued to reduce its holdings in Coinbase (COIN). On Monday, the firm sold 4,291 COIN shares, <a href="https://cryptosheadlines.com/ordinals-finance-took-1-million-from-its-users-and-as-a-result-the-value-of-ofi-token-dropped-by-95/" rel="noopener noreferrer nofollow">resulting in a sale valued at approximately $21 million</a> by Tuesday morning.</p><h2 id="header-4">Expansion of Robinhood’s Offerings</h2><p>On March 20, 2024, Robinhood expanded its services by introducing a <a href="https://cryptosheadlines.com/binance-ceo-warns-of-risks-in-self-custody-wallets/" rel="noopener noreferrer nofollow">self-custodial wallet</a>, known as the Robinhood Wallet app, specifically for Android users. This move marks a significant development for Robinhood as it seeks to broaden its offerings and cater to the evolving needs of its user base.</p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

ARK Invest Sells Some Robinhood; Buys More Roblox

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