Cathie Wood’s Ark Invest Bolsters Bet on Bullish Crypto Exchange with Multi-Million Dollar Share Purchase

Ark Invest, the innovation-focused asset management firm steered by renowned investor Cathie Wood, continues to signal strong conviction in the future of digital assets by significantly increasing its stake in the cryptocurrency exchange Bullish.

According to recent transaction disclosures, Ark Invest executed a substantial purchase on Monday, acquiring 238,346 shares of Bullish, valued at approximately $11.98 million. This latest acquisition was distributed across three of Ark’s flagship actively managed Exchange Traded Funds (ETFs):

• ARK Innovation ETF (ARKK): Acquired approximately 164,214 shares.
• ARK Next Generation Internet ETF (ARKW): Increased holdings by 49,056 shares.
• ARK Fintech Innovation ETF (ARKF): Added 25,076 shares.

This fresh injection of capital builds upon Ark’s initial substantial investment of around $172 million in Bullish during its highly anticipated public listing in August.

As of Monday’s market close, Bullish now constitutes a notable percentage of these Ark ETFs’ portfolios, underscoring its growing importance within their investment strategy:

• ARKK: 0.97% of the portfolio.
• ARKW: 0.98% of the portfolio.
• ARKF: 1.18% of the portfolio.

Bullish, a cutting-edge cryptocurrency exchange, enjoys the backing of billionaire entrepreneur Peter Thiel. The platform officially commenced spot crypto trading services in the United States in early October, following the crucial receipt of both a BitLicense and a money transmission license from the New York State Department of Financial Services (NYDFS).

Despite Ark’s unwavering confidence, Bullish’s stock performance has faced headwinds since its market debut. On Monday, shares experienced a slight dip of 0.61%, closing at $50.26. Over the past month, the stock has seen a cumulative decline of 22.45%, and remarkably, it has nearly halved in value since its listing, registering a substantial 47.48% drop.