Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Cathie Wood's ARK Invest purchased a large chunk of shares in U.S.-based financial services company Robinhood , a day after the popular trading platform laid out plans to expand in Europe.
ARK Innovation ETF , ARK Next Generation Internet ETF , and ARK Fintech Innovation ETF bought a combined 1,141,046 shares of Robinhood. The total purchase had a value of $9.54 million based on Wednesday's close of $8.36.on Tuesday."As another step in global expansion, we are also planning to launch crypto trading in the EU following our U.K. launch," the firm added.
Bitcoin's 110% year-to-date gain has failed to boost demand for shares in Robinhood, which, as of Wednesday, traded just 2.7% higher on a year-to-date basis.Also, the ARK Next Generation Internet ETF sold 48,477 units of GBTC worth $1.34 million. Late last month, theGBTC's discount relative to the trust's net asset value has narrowed to 12.26% from the record 48% in December last year in hopes the U.S.
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