ARK Invest disclosed on June 18 that it liquidated roughly $60 million to $77 million of Robinhood Markets and Roku stock, while simultaneously establishing fresh positions in Eli Lilly, Coinbase and other growth‑focused companies.
Disposition of Robinhood and Roku Shares
Through its ARK Innovation ETF, the firm sold 275,572 Robinhood shares, generating an estimated $26.65 million. The divestiture followed Robinhood’s announcement that CEO Vlad Tenev would cut about 10 % of permanent staff—approximately 290 jobs—to improve efficiency, a move that lifted the stock’s price and prompted analysts to raise target estimates.
ARK also exited Roku holdings, disposing of between 239,267 and 561,800 shares across the ARKK, ARKW and ARKF funds, a transaction valued between $33 million and $77.57 million. The timing coincided with Fox’s $22 billion acquisition offer of $160 per share, which drove Roku’s market price to the deal level and capped further upside for investors.
Reallocation into Growth and Crypto‑Related Assets
Proceeds from the Robinhood and Roku sales were redirected into positions that ARK views as high‑growth, including a new stake in Coinbase, a leading crypto exchange. By increasing exposure to Coinbase, ARK aims to capture the expanding blockchain market and benefit crypto investors seeking exposure to digital‑asset trading platforms.
Additional capital was allocated to pharmaceutical giant Eli Lilly, reflecting confidence in its pipeline and potential for strong earnings. The strategic shift underscores ARK’s belief that a blend of biotech innovation and crypto‑centric assets can deliver superior returns in the current market environment.