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 exchange-traded funds, 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.
Bullish recently announced a $4.2 billion acquisition of Equiniti, a transfer agent and shareholder services firm. Bullish CEO Tom Farley described the deal as an opportunity to accelerate the company's path toward providing end-to-end tokenization services at an institutional scale. "Broad adoption at institutional scale requires three things: end-to-end tokenization services, a single, unified ledger, and a broad base of blue-chip issuer relationships, at scale," Farley said.
The company listed on the New York Stock Exchange in August 2025, pricing 30 million shares at $37 each at the time of its debut. Bullish currently ranks as the sixth-largest public corporate holder of Bitcoin (BTC), with approximately 24,300 BTC on its balance sheet, according to Bitcoin Treasuries data.
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