ARK Invest buys $13M of Robinhood after U.S. Treasury used app

ARK Invest bought about $13 million of Robinhood stock after the U.S. Treasury used the Robinhood app to open and manage accounts tied to President Donald Trump. The purchase and the Treasury’s use of the app occurred in close succession.

ARK Invest, led by Cathie Wood, executed the roughly $13 million purchase through one or more of its funds, according to people familiar with the transactions. The trades were concentrated in U.S. equities and were executed on public markets.

The Treasury Department created and operated accounts on behalf of the president using the Robinhood app. Treasury officials handled the account setup and oversight. No public information has been released indicating operational problems related to the accounts.

Robinhood popularized commission-free trading and listed publicly in 2021. The company has faced regulatory scrutiny since 2020 over its handling of volatile trading events and customer order execution. According to the Robinhood review, the platform has pursued expanded product offerings while addressing regulatory and compliance matters.

The $13 million stake is moderate compared with ARK’s broader trading activity, which often includes multiple purchases and sales across its funds. Market participants will watch upcoming regulatory filings from ARK and any official statements from the Treasury or Robinhood for additional detail.