Cathie Wood’s ARK Invest acquired $9.38 million worth of eToro shares after the trading platform’s IPO surged 29% on its first day.

Cathie Wood’s ARK Invest has doubled down on its fintech gambits, this time betting big on eToro’s blistering market debut.

On Wednesday, the investment firm disclosed a $9.38 million purchase of 140,000 shares in the brokerage platform through its ARK Fintech ETF (NYSEARCA:ARKF), just hours after eToro’s IPO defied expectations. Priced at $52 per share above its projected range the stock skyrocketed to $69.69 at open before settling at $67, a 29% pop that cemented its status as one of 2025’s hottest debuts. With the offering upsized to 11.9 million shares, eToro’s market cap now stands at $5.5 billion.

For Wood, the move is hardly a surprise. ARK has long championed disruptive fintech players, with eToro rivals Robinhood and Coinbase ranking as the second- and third-largest holdings in its flagship ETF. But eToro’s trajectory is hard to ignore: the platform ended 2024 with 3.5 million funded accounts across 75 countries and a jaw-dropping 1,161% surge in net income to $192 million, fueled by its early crypto-trading edge.

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Yet the question lingers: Is this another visionary wager from Wood, or a late chase after hype? As retail trading frenzy collides with crypto’s volatile revival, eToro’s IPO may prove a litmus test for ARK’s high-stakes strategy.