TLDR
- Cathie Wood’s ARK Invest bought 33,022 Bullish shares worth $1.1 million on January 28, 2026.
- The purchase marks ARK’s return to crypto stocks after a six-week hiatus since mid-December 2025.
- BLSH shares fell 4.5% to $34.33 on the purchase date and declined further to $32.76 the next day.
- Peter Thiel backs Bullish, an institutional crypto exchange that debuted publicly in August 2025.
- ARK’s broader crypto buying spree totaled $21.5 million across Bullish, Coinbase, and Circle Internet.
Cathie Wood is back in the crypto game. Her investment firm ARK Invest purchased Bullish shares on January 28, ending a lengthy pause.
ARK hadn’t touched crypto stocks since mid-December 2025. The six-week break ended with a $1.1 million bet on Bullish.
The institutional crypto exchange caught Wood’s attention despite market weakness. Bitcoin was trading below $90,000 when ARK made its move.
Bullish launched on public markets in August 2025. The Cayman Islands-based platform serves professional traders and institutions.
Peter Thiel, PayPal’s co-founder, backs the exchange. His involvement gives Bullish credibility in the competitive crypto trading space.
ARK split the purchase between two exchange-traded funds. ARKK picked up 31,543 shares while ARKF added 1,479 shares.
The 33,022-share purchase represented a clear vote of confidence. Wood didn’t stop with Bullish either.
That same week, ARK spent $21.5 million total on crypto platforms. Coinbase and Circle Internet also received fresh capital from Wood’s funds.
BLSH Price Slides Despite New Investment
Investors didn’t celebrate ARK’s entry. Bullish stock opened at $35.88 and closed at $34.33 on January 28.
The 4.5% drop raised questions about market sentiment. Selling pressure continued into the following session.
BLSH traded at $32.76 by January 29. Another 4% vanished in a single day.
Wood built her reputation on early crypto bets. ARK Invest became the first public asset manager with Bitcoin exposure in 2015.
Critics doubted the strategy initially. The firm ignored skeptics and expanded its digital asset portfolio over time.
Today ARK holds positions in multiple crypto-related companies. Circle Internet Group, Coinbase Global, Robinhood Markets, and Bitmine Immersion Technologies fill out the holdings.
Key Date Approaches for Bullish Investors
Bullish releases Q4 2025 earnings on February 5. The report will reveal revenue performance and operational metrics.
Investors want details on the Deutsche Bank partnership. They’re also tracking adoption of crypto options and subscription services.
Valuation remains a contentious topic. Analyst estimates span from $3,087 to over $30,000 per share.
The wide range highlights disagreement about Bullish’s future. The company lacks profitability and trades at high sales multiples.
ARK reshuffled other positions that day. The firm cut holdings in Teradyne, Illumina, and Kratos Defense & Security Solutions.
Biotech stocks got fresh capital. CRISPR Therapeutics, Beam Therapeutics, and Intellia Therapeutics all saw ARK buying.
Wood’s strategy focuses on disruptive innovation. Crypto platforms fit that mandate alongside genomics and fintech plays.
The January purchases signal renewed interest in digital assets. ARK avoided crypto stocks during December’s market volatility but returned when prices stabilized.
Bullish entered public markets during favorable conditions. The August 2025 IPO coincided with strong demand for crypto-related stocks.
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