Ark Invest Continues Bullish Crypto Bet with Tenth Consecutive Purchase

Ark Invest, under Cathie Wood's leadership, has reinforced its confidence in the crypto sector by acquiring an additional 364,044 shares of Bullish, the Peter Thiel-backed cryptocurrency exchange. The $11.6 million purchase marks the tenth straight day of accumulation, signaling unwavering conviction in Bullish's long-term potential.

Bullish shares have rebounded 28.3% since hitting a February 9 low of $24.90, closing at $31.88 on Wednesday despite a marginal daily dip. Ark's disciplined strategy ensures no single holding exceeds 10% of any fund's portfolio, maintaining balanced exposure while capitalizing on growth opportunities.

The firm simultaneously demonstrated faith in crypto infrastructure by purchasing $4.4 million worth of Circle shares, even as the stablecoin issuer's stock declined 30% over the past month. These moves underscore institutional investors' growing appetite for crypto-related assets despite short-term volatility.