Cathie Wood’s ARK Investment Management (ARK Invest) sold about $21.7 million worth of Robinhood Markets shares and about $4.7 million of SpaceX stock on Thursday, October 8, 2026. The firm also cut roughly $1.8 million from its own spot Bitcoin exchange-traded fund (ETF) as it moved cash across its actively managed funds and into defense, fintech, and autonomous technology stocks.
ARK Sells Robinhood, SpaceX, and ARKB in One Session
The trades appear in the daily trade file ARK publishes for its actively managed ETFs. The file lists portfolio changes made by the investment team, but it excludes creation and redemption activity.
ARK sold 202,825 Robinhood (HOOD) shares through its flagship ARK Innovation ETF (ARKK). The sale made up about 0.23% of the fund. Robinhood stock closed Thursday at $107.01, down 2.28%, putting the sale at roughly $21.7 million.
Through the ARK Next Generation Internet ETF (ARKW), the firm sold 29,048 shares of Space Exploration Technologies Corp., known as SpaceX. That was about 0.20% of the fund. SpaceX stock (SPCX) closed at $160.57, down 4.19%, valuing the sale near $4.7 million.
The ARK Fintech Innovation ETF (ARKF) sold 66,454 shares of the ARK 21Shares Bitcoin ETF (ARKB), a spot Bitcoin fund ARK runs with Swiss issuer 21Shares. The sale was worth about $1.8 million and equal to roughly 0.20% of ARKF.
Robinhood Sale Follows a Volatile Crypto Week
Thursday’s sale was ARK’s second Robinhood cut in two sessions. On Wednesday, October 7, ARKK sold 151,903 HOOD shares worth about $16.6 million, when the stock closed at $109.51.
The sales came as crypto markets weakened. Robinhood earns a meaningful share of its trading revenue from crypto activity, so its stock often moves with digital asset prices. Bitcoin (BTC) tested $82,000 support on October 8 as U.S. spot Bitcoin ETFs recorded $487 million in net outflows. On Friday, Bitcoin fell 3.3%, and Ethereum dropped 5.7% as the selloff deepened.
The trading platform also made crypto news of its own this week. On October 7, Johann Kerbrat, Robinhood’s senior vice president and general manager of crypto and international, said the company had added $25 million in Bitcoin to its balance sheet. He disclosed the Digital Asset Summit Asia in Singapore.
Wall Street analysts have stayed positive on the stock. Barclays raised its price target on Robinhood to $132 from $105. Bank of America lifted its target to $156 from $140. Robinhood is scheduled to report third-quarter results on October 27, 2026.
SpaceX Trim Lands on Day of 800 MHz Spectrum Deal
Thursday’s SpaceX sale followed a larger cut earlier in the week. On October 6, ARKW sold 54,873 SPCX shares worth about $9.4 million at a $171.92 close.
SpaceX listed on the Nasdaq stock exchange in June 2026. Its initial public offering (IPO) was priced at $135 per share, and the stock opened at $150. ARK built its position heavily through July and August across several funds, and SpaceX remains one of ARKK’s largest holdings after this week’s trims.
After the market closed on Thursday, SpaceX said it had agreed to acquire a nationwide 800 MHz spectrum portfolio from Grain Management, a firm that invests in wireless spectrum. The deal covers up to 14 MHz of paired low-band spectrum, and the price was not disclosed. SpaceX said the spectrum will add to its existing 2 GHz holdings and help its Starlink Mobile service reach phones inside buildings.
Musk posted on X that the spectrum is “the last critical piece of the spectrum puzzle.” Responding to venture investor Chamath Palihapitiya, who called it “a very big deal,” Musk wrote that “to those who understand the spectrum wars, it’s an earthquake.”
The news hit the major U.S. wireless carriers in overnight trading. AT&T fell 6.59%, Verizon dropped 5.70%, and T-Mobile lost 6.10%. SPCX rose 3.11% to $165.57 in the same session. For more on where analysts see the stock heading, read our SpaceX (SPCX) price prediction for October 2026.
Where the Cash Went: Kratos, Klarna and Robotics Stocks
ARK put part of the money into new and higher-conviction names. ARKK bought 159,918 shares of Kratos Defense & Security Solutions (KTOS), worth about $6.7 million at a $41.93 close. On August 4, the drone and defense contractor reported second-quarter revenue of $458.8 million, up 30.5% from a year earlier. It also raised its full-year 2026 revenue forecast to between $1.75 billion and $1.81 billion.
Other buys and sales across ARK’s funds:
- ARKF: bought 347,777 Genius Sports and 135,914 Klarna shares, and sold 106,134 DraftKings shares.
- ARK Autonomous Technology & Robotics ETF (ARKQ): bought WeRide, Symbotic, Pony AI, Kodiak AI, and Archer Aviation, and sold Teradyne.
- ARK Space & Defense Innovation ETF (ARKX): bought Archer Aviation, and sold small amounts of Teradyne and Iridium Communications.
- ARK Genomic Revolution ETF (ARKG): bought Kymera Therapeutics, Nurix Therapeutics, Scribe Therapeutics, and Freenome, and sold Personalis and CareDx.
- ARKK also bought 119,681 Archer Aviation shares.
ARK Cuts AMD, Meta, Alphabet and Shopify
ARKK also reduced several large technology holdings on Thursday, according to closing prices for the session:
- 138,032 Shopify (SHOP) shares
- 19,779 Meta Platforms (META) shares, about $14.3 million at $720.89
- 22,500 Advanced Micro Devices (AMD) shares, nearly $14 million at $620.68
- 25,342 Alphabet Class C (GOOG) shares, about $8.7 million at $344.86
The fund also trimmed Illumina, 10x Genomics, Twist Bioscience, Cloudflare, and Natera.
Why ARK Is Selling
ARK has not commented on Thursday’s trades. However, the pattern fits how the firm usually manages its funds. Its ETFs hold a small number of stocks and trade often. ARK routinely trims positions that have grown large in its portfolios and moves the money into stocks where it sees more upside.
The Robinhood and SpaceX sales came after both stocks fell during a weak week for crypto and growth assets. Each sale was small, at about 0.2% of its fund. Both stocks remain significant ARK holdings, and the firm’s next trade file, covering Friday, October 9, will show whether the selling continues.
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