Cathie Wood’s ARK Investment Management closed its second quarter by adding a significant position in SoFi Technologies Inc. (SOFI) on the same day that the fintech firm launched a small business lending platform offering loans of up to $250,000.

According to Ark Invest Tracker, Wood’s ARK Innovation ETF (ARKK) bought 202,095 shares of SOFI, worth about $3.62 million based on its last closing price.

Wood’s CLARITY Act Stance

The ETF also added other financial stocks, including Robinhood Markets Inc. (HOOD), and cryptocurrency firms Coinbase Global, Inc. (COIN), Circle Internet Group, Inc. (CRCL), and Bullish (BLSH).

These purchases align with Wood’s on the pending CLARITY Act, which could provide regulatory clarity for financial and crypto firms by defining when digital assets are treated as commodities. It would also place more oversight under the CFTC, a move Wood has previously said could accelerate innovation and institutional adoption.

SoFi’s Small Business Loans

Meanwhile, earlier on Tuesday, the financial company launched SoFi Small Business Loans, expanding beyond its core lending operations as it targets becoming the everything app for digital financial services.

The new platform will offer fixed-rate business loans of up to $250,000 to small businesses, with the company stating that eligibility checks would be completed in minutes and that funding would be available as soon as 24 hours after approval. It also features transparent pricing with no application, origination, or prepayment fees, alongside predictable repayment schedules to help businesses manage cash flow and growth plans.

“Small business owners deserve financing that moves as fast as they do. @SoFi Small Business Loans are an important step in building a financial services platform for every major financial decision in our members’ lives, and all the days in between,” CEO Anthony Noto said in a post on X.

However, investment bank Keefe Bruyette said it does not expect a significant near-term financial impact from the new offering, according to The Fly. However, continued investments in small businesses with expanded product offerings could help SoFi develop a "sizable business over time," the firm added.

SOFI Stock: Retail Stance

On Stocktwits, retail sentiment around SOFI was in the ‘bearish’ territory at the time of writing.

One user said, “How come ARKK buying is bearish people are nuts saying that, then selling is bullish lol.”

Another user said, “Sofi adding small business lending, this is going to rocket higher.”

SOFI stock is down 34.71% this year amid concerns over slowing growth and management’s recent decision not to raise full-year guidance.