TLDR
- Ark Invest purchased 161,183 Bullish shares worth $8.3 million on September 16, 2025
- ARKK fund bought 120,609 shares while ARKW fund acquired 40,574 shares
- Bullish stock trades at $51.36 but down 24% since NYSE debut in August
- Ark previously invested $172 million during Bullish’s IPO week
- Analysts predict Bullish could become second-largest institutional crypto exchange by 2026
Cathie Wood’s Ark Invest expanded its cryptocurrency exchange holdings with an $8.3 million purchase of Bullish stock on Tuesday. The investment management firm acquired 161,183 shares through two of its popular exchange-traded funds.
The ARK Innovation ETF (ARKK) purchased 120,609 shares of the crypto exchange. The ARK Next Generation Internet ETF (ARKW) bought 40,574 shares in the same transaction.
This purchase represents 0.054% of ARKK’s total assets and 0.057% of ARKW’s portfolio. The funds paid approximately $51.36 per share for the Bullish stock.
Bullish Stock Performance Since NYSE Debut
Bullish shares gained 0.55% on Tuesday to close at $51.36. However, the cryptocurrency exchange has struggled since going public on the New York Stock Exchange last month.
The stock has declined 24.47% from its initial trading levels. This drop occurred despite strong initial interest in the company’s $1.1 billion initial public offering.
Bullish operates as an institutional-focused cryptocurrency trading platform. The exchange targets professional traders and high-volume digital asset transactions.
The company chose the NYSE for its public listing to attract traditional institutional investors. This move positioned Bullish as a bridge between traditional finance and cryptocurrency markets.
Ark Invest’s Growing Crypto Exchange Position
This latest purchase builds on Ark’s previous investments in the crypto exchange. During Bullish’s IPO week in August, Ark Invest acquired approximately $172 million worth of shares.
The investment firm spread these purchases across three different ETFs. This strategy made Ark one of the largest institutional shareholders in the newly public company.
Cathie Wood has consistently advocated for cryptocurrency adoption in traditional portfolios. Her investment approach focuses on disruptive technologies and innovative financial services.
Ark’s continued investment in Bullish demonstrates confidence in the institutional cryptocurrency trading market. The firm appears to view the exchange as a long-term growth opportunity.
Analyst Projections and Market Outlook
Bernstein research analysts published bullish projections for the company earlier this month. They set a $60 price target for Bullish stock, suggesting 17% upside potential.
The research firm expects Bullish to become the second-largest institutional crypto exchange. This projection depends on successful U.S. operations launch planned for 2026.
Coinbase currently dominates the institutional cryptocurrency exchange market. Bernstein believes Bullish can challenge this market leadership over time.
The analysts cite Bullish’s institutional focus and regulatory compliance as competitive advantages. These factors could drive market share growth in the expanding crypto trading sector.
Ark Invest also purchased 109,678 shares of design technology company Figma on the same day. Figma holds $70 million in bitcoin ETF shares and $30 million in USDC stablecoin reserves.
