TLDR
- Ark Invest bought 238,346 Bullish shares worth $11.98M on Monday.
- The purchase was spread across ARKK, ARKW, and ARKF ETFs.
- Bullish stock is down 47.48% since its August NYSE debut.
- Bullish will report Q3 earnings on November 19, 2025.
Ark Invest made a major move in the crypto market on Monday, purchasing nearly $12 million in Bullish shares. The investment firm led by Cathie Wood spread this acquisition across three of its exchange-traded funds (ETFs). The move comes as Bullish, a crypto exchange backed by Peter Thiel, prepares for its upcoming earnings report later this month.
Ark Invest Adds Bullish Shares Across Three ETFs
Cathie Wood’s Ark Invest purchased 238,346 shares of Bullish on Monday, worth approximately $11.98 million. The buying activity was disclosed in Ark’s daily trading update.
The ARK Innovation ETF (ARKK) bought 164,214 shares, making it the largest buyer among the three funds. The ARK Next Generation Internet ETF (ARKW) purchased 49,056 shares, and the ARK Fintech Innovation ETF (ARKF) added 25,076 shares.
These shares now make up 0.97% of ARKK, 0.98% of ARKW, and 1.18% of ARKF. Ark has been increasing its position in Bullish since the company’s public listing on the New York Stock Exchange in August.
Earlier this year, Ark invested $172 million in Bullish during its market debut. This latest purchase signals continued interest in the company despite recent price drops in the stock.
Bullish Shares Continue Downtrend Despite New Investment
Bullish shares closed at $50.26 on Monday, marking a 0.61% drop for the day. The stock has declined by 22.45% over the past month and is down 47.48% since its August debut.
Despite the falling stock price, Ark Invest has maintained its buying strategy. Market analysts are watching whether the upcoming earnings report will help the stock stabilize or lead to further volatility.
Bullish launched its U.S. spot trading services in October after receiving the BitLicense and a Money Transmission License from New York State. The company said it has processed more than $1.5 trillion in cumulative trading volume since late 2021.
Bullish is backed by well-known tech investor Peter Thiel, which adds weight to its market position despite the recent stock decline.
Upcoming Earnings in Focus After Strong Q2 Results
Bullish is set to report its third-quarter earnings on November 19. Investors are closely watching to see how the firm has performed after launching U.S. spot trading last month.
In the second quarter, Bullish reported $57 million in adjusted revenue. That was a decline from $67 million in the same period last year. However, the company posted a net income of $108.3 million, which marked a turnaround from a net loss of $116.4 million in the previous year.
This profit shift has drawn attention from institutional investors. With Ark Invest increasing its position, many are expecting further developments in Bullish’s financial performance.
Bullish has not released guidance for Q3, but analysts expect key updates on user growth and U.S. trading activity following the exchange’s regulatory approvals.
Ark Invest’s Continued Interest in Crypto Markets
Ark Invest has been active in the cryptocurrency and blockchain space for years. The firm has made repeated investments in various crypto-related companies, including Coinbase and Block.
With this new stake in Bullish, Ark continues to build out its exposure to the digital asset sector, even as crypto markets remain uncertain.
The ETFs managed by Ark aim to provide long-term growth by investing in disruptive innovation. Bullish’s entry into U.S. trading and rapid growth in trading volume may align with that strategy, even if the stock’s short-term performance has been weak.
Ark’s recent moves show that it is not stepping back from the crypto sector but rather doubling down ahead of key financial updates.
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