Ark Invest Amplifies Bullish Holdings Stake with $12M Purchase
Cathie Wood's Ark Invest has deepened its commitment to Bullish Holdings, acquiring an additional $11.98 million in shares this week. The move signals unwavering confidence in the Peter Thiel-backed crypto exchange despite its 47% decline since August's NYSE debut at $37 per share.
The investment spans three Ark ETFs: ARKK absorbed 164,214 shares, ARKW added 49,056, and ARKF incorporated 25,076. Bullish now represents nearly 1% of each fund's holdings. This latest purchase brings Ark's total position to $209 million, a bold bet on the exchange's growth potential following its U.S. expansion.
Market observers note the accumulation contrasts sharply with Bullish's performance—shares dipped 0.61% to $50.26 Monday, extending a 22% monthly slide. Yet Wood's team continues buying, suggesting they see undervalued infrastructure in a sector where institutional adoption remains embryonic.
