Ark Invest Bolsters Crypto Position with $11.98M Bullish Stock Purchase
Cathie Wood's Ark Invest has made a significant move in the crypto sector, acquiring $11.98 million worth of Bullish shares across three of its ETFs. The purchase, executed on Monday, saw 238,346 shares added to ARKK, ARKW, and ARKF portfolios. This strategic accumulation comes as Bullish—a Peter Thiel-backed crypto exchange—prepares to release Q3 earnings on November 19.
The investment represents a doubling down on Ark's August bet when it poured $172 million into Bullish during its NYSE debut. Despite the stock's 47.48% decline since listing, the firm continues to build its position. ARKK absorbed 164,214 shares (0.97% of fund assets), while ARKW and ARKF took smaller stakes at 0.98% and 1.18% respectively.