Ark Invest Adds $5M in Bullish Shares Across Three ETFs

The shares were distributed across Ark's Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Blockchain and Fintech Innovation ETF (ARKF).

Crypto News

Cathie Wood's Ark Invest acquired 139,117 shares of crypto exchange Bullish on May 21 across three of its

, according to the firm's daily trading disclosure. The total purchase was valued at approximately $5 million based on Bullish's closing price that day.

The shares were distributed across Ark's Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Blockchain and Fintech Innovation ETF (ARKF). Thursday's purchase extended a buying pattern Ark has maintained over the past week. On Monday and Tuesday, the firm collectively acquired $4.4 million in Bullish shares across the same three funds.

Bullish's NYSE-listed stock closed down 2.73% at $35.96 on Thursday. The shares have declined 8.9% over the past five trading days and are down 14.2% over the past month.

The accumulation follows Bullish's first-quarter financial results, released last week, which presented a mixed picture. The company posted a net loss of $604.9 million for the quarter, nearly double the loss recorded in the same period a year earlier. Adjusted revenue, however, rose to $92.8 million from $62.4 million in Q1 of last year.