TLDR
- Ark Invest purchased $11.98 million worth of Bullish Holdings shares this week across three ETFs.
- Cathie Wood’s firm now holds more than $209 million in Bullish stock since its August debut.
- The flagship ARK Innovation ETF bought 164,214 shares in the latest transaction.
- Bullish stocks have fallen 47% from their initial public offering price, despite Ark’s continued buying.
- The crypto exchange reported a net profit of $108.3 million in Q2 2025, reversing a $116.4 million loss from the previous year.
Ark Invest acquired $11.98 million worth of Bullish Holdings shares this week. The crypto exchange backed by billionaire Peter Thiel continues to attract investment from Cathie Wood’s firm. Ark now holds more than $209 million in Bullish stock since the company’s public debut.
Ark Invest Expands Bullish Position Across Three ETFs
Cathie Wood’s investment firm purchased 238,346 Bullish shares on Monday. The transaction spread across three actively managed exchange-traded funds. ARK Innovation ETF bought 164,214 shares, while ARK Next Generation Internet ETF acquired 49,056 shares.
ARK Fintech Innovation ETF added 25,076 shares to its holdings. Bullish stock now represents 0.97% of ARKK’s portfolio. The crypto exchange makes up 0.98% of ARKW and 1.18% of ARKF.
Bullish shares traded at $50.26 on Monday, down 0.61% from the previous session. The stock has fallen 22.45% over the past month. Since its August debut, Bullish shares have declined by approximately 47% from their initial levels.
Cathie Wood Maintains Confidence Despite Stock Volatility
Ark initially invested $172 million during Bullish’s New York Stock Exchange listing. The offering priced shares at $37 each in August. The deal valued Bullish at approximately $5.4 billion and raised $1.1 billion through 30 million shares.
BlackRock joined Cathie Wood’s Ark in expressing early interest in the offering. The institutional support demonstrated confidence in Bullish’s exchange model. Regulatory approval strengthened the company’s market position among professional trading platforms.
Bullish operates from the Cayman Islands and launched in 2021. The exchange combines centralized infrastructure with blockchain-based transparency features. Professional and institutional traders form the platform’s primary user base.
The platform has processed over $1.5 trillion in cumulative trading volume. In September, Bullish obtained the BitLicense from New York State Department of Financial Services. The company also secured a Money Transmission License during the same period.
Strong Financial Performance Supports Cathie Wood’s Investment Strategy
Bullish now operates spot trading across 20 U.S. states. New York, California, and Florida are among the key markets. The regulatory approvals enabled broader market access for the crypto exchange.
The company reported a net profit of $108.3 million in Q2 2025. This reversed a $116.4 million loss from the previous year. Adjusted revenue reached $57 million, down from $67 million year-over-year.
Trading volume hit $179.6 billion during the second quarter. Bullish will release third-quarter earnings on November 19. The financial turnaround aligns with Cathie Wood’s thesis on investing in disruptive innovation.
Ark Invest manages over $16 billion in total assets. The firm focuses on high-growth sectors including artificial intelligence and blockchain technology. Robotics and genomics also feature in the investment strategy.
ARK Innovation ETF holds $8.4 billion in assets under management. Tesla represents the largest position at 12.32% of the portfolio. Coinbase accounts for 5.86%, while Roku holds 5.73% and Robinhood comprises 4.8%.
Cathie Wood’s crypto-related exposure exceeds $2.15 billion across ARKK, ARKW, and ARKF. Holdings include Coinbase, Robinhood, and Circle Internet Group. The firm also holds positions through ARK 21Shares Bitcoin ETF.
ARKK has gained 54.5% year-to-date as of October 31. The S&P 500 returned 16.3% during the same period. Cathie Wood achieved a 153% return in 2020, building her reputation among investors.
The strategy produces sharp gains during bull markets but carries risk. ARKK fell more than 60% in 2022. Cathie Wood continues to pursue high-conviction bets on disruptive technology companies.
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