Cathie Wood's Ark Invest buys $9.4 million worth of eToro shares on Nasdaq debut, sells $7.9 million of its own Bitcoin ETF

Ark Invest bought 140,000 eToro shares, worth $9.4 million, for its Fintech Innovation exchange-traded fund (ARKF) on Wednesday as the crypto and stock trading platform made its Nasdaq debut.

eToro saw a  29% jump in its share price on its first day of trading as a public company under the ticker ETOR, closing at $67, according to TradingView. That followed an upsized initial public offering that priced shares at $52 each, reflecting stronger-than-expected demand. eToro had originally filed for an IPO in March, but then paused its plans amid President Trump's tariff-fueled market volatility. Other crypto-related companies, such as Circle and Animoca Brands , also aim to go public this year.

Ark has a history of picking up investments upon listing, also buying 750,000 Coinbase shares on its April 2021 debut.

Ark's investment strategy aims to let no individual holding take up more than 10% of a fund's portfolio. This is to maintain diversification within its funds — meaning Ark is likely to continue rebalancing its weightings if the value of eToro shares rises or falls significantly relative to Ark's other holdings in its funds.

According to the firm's latest disclosures, ETOR comes in at 33rd of holdings within its ARKW fund, with an initial weighting of 0.93%. To put that in perspective, Shopify, Coinbase , and Robinhood represent the top three assets in the fund with weightings of 9.9%, 9.7%, and 7.4%, at a valuation of $100 million, $94 million, and $74 million, respectively. 

Ark sells off its own Bitcoin ETF and shares in Jack Dorsey's Block, picks up 3IQ's Solana staking fund

Alongside the eToro buy, Ark sold off a total of $7.9 million worth of its own U.S. spot Bitcoin ETF ( ARKB ) from its Fintech Innovation (ARKF) and Next Generation Internet (ARKW) funds on Wednesday. Despite the offloading, ARKB remains the top holding in the investment firm's ARKW fund, with a weighting of 9.5% — worth nearly $165 million. ARKB also remains Ark's fourth-largest holding in its ARKF fund with a 6.1% weighting ($62 million).

Ark's spot Bitcoin ETF registered $5.2 million in net inflows on Wednesday to reach nearly $2.7 billion in cumulative inflows since launching in January 2024. The fund has $4.9 billion in assets under management, according to The Block's ARKB Tracker page .

Meanwhile, Ark picked up $7.6 million worth of 3IQ's Toronto-listed Solana staking ETF across ARKF and ARKW to reach a 1% and 0.6% weighting, valued at $10.3 million and $10.6 million, respectively. The U.S. is yet to approve a Solana ETF , with several firms, including Bitwise, 21Shares, Grayscale, and VanEck, recently filing applications with the Securities and Exchange Commission.

The investment firm also offloaded 14,930 shares in Jack Dorsey's Block on Wednesday, worth around $873,000, as the company behind Cash App and Bitkey closed up 0.6% at $58.50, according to The Block's price page .