**ARK Invest Sells $36M in Robinhood Shares Amid Stock Surge**

ARK Invest, led by Bitcoin enthusiast Cathie Wood, has sold 1.4 million shares of Robinhood, valued at $36.4 million, from its three funds. This move aligns with Rule 12d3-1, which limits fund holdings to 5% of an issuer's total assets.

Robinhood's stock has soared over 100% year-to-date, hitting a high of $25.61 on Oct. 8, its best since November 2021. Despite this, it's still below its all-time high of $44 from July 2021.

ARK's sale involved ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF. The ARK Innovation ETF sold the largest portion. Even after the sale, ARK holds $274 million in Robinhood shares and $368 million in Coinbase, its third-largest asset.