ARK Invest Grabs $9.4M Stake in eToro After Strong IPO Surge
Cathie Wood’s ARK Invest jumped into eToro (ETOR) on its first day of public trading, securing a $9.4 million position as the stock soared nearly 29% from its opening price.
The investment firm purchased 140,000 shares of eToro following the platform’s Nasdaq debut, where the stock opened at $52 and closed the session at $67. The opening price was already above expectations due to overwhelming demand, signaling strong investor appetite for the stock-and-crypto trading platform.
Alongside the eToro buy, ARK also picked up 275,000 shares of 3iQ’s Solana staking ETF (SOLQ), valued at just over $5.3 million based on closing prices. This brought ARK’s total holdings in the ETF to nearly $15 million, representing 799,063 shares.
Both positions were added to ARK’s Fintech Innovation ETF (ARKF), which focuses on disruptive finance technologies and includes other key crypto-aligned holdings like Coinbase (COIN) and Robinhood (HOOD). ARKF is one of three ARK ETFs that allocate heavily to the digital asset ecosystem, alongside ARKW and ARKK.
The aggressive buying reflects ARK’s continued conviction in the long-term growth of crypto-enabled financial platforms and staking services.
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