Cathie Wood’s Ark Invest purchased $10.2 million worth of Bullish cryptocurrency exchange shares on November 17. The investment firm made the purchase across three of its exchange-traded funds.
The ARK Innovation ETF (ARKK) acquired 191,195 shares of Bullish. The ARK Next Generation Internet ETF (ARKW) bought 56,660 shares. The ARK Fintech Innovation ETF (ARKF) added 29,208 shares to its holdings.
The total purchase amounted to 277,063 shares. The transaction was documented in Ark’s Monday trading report.
The purchase occurred on a down day for Bullish stock. Shares closed at $36.75 on the New York Stock Exchange. This represented a 4.5% decline from the previous trading session.
Bullish operates as a cryptocurrency trading platform. The exchange is backed by billionaire tech investor Peter Thiel. The company went public through a listing on the NYSE.
The timing of Ark’s purchase comes just before Bullish’s earnings release. The company is scheduled to report its third-quarter results on November 19.
Bullish’s second quarter results showed mixed performance. The exchange reported $57 million in adjusted revenue. This figure was down from $67 million in the same period the previous year.
The company’s bottom line showed improvement year-over-year. Bullish posted net income of $108.3 million in Q2. This compared favorably to a net loss of $116.4 million in Q2 of the prior year.
The exchange reached a milestone in early October. Bullish launched spot trading services in the United States. The launch followed the company obtaining a key New York license.
Bullish has processed substantial trading volume since its inception. The exchange reported surpassing $1.5 trillion in cumulative trading volume. This figure represents activity since late 2021.
Ark Invest has maintained an active approach to crypto investments throughout 2025. The firm has been making regular purchases of crypto-related stocks. Last Thursday alone, Ark bought $7.28 million in additional Bullish shares.
The same day, the firm purchased $15.56 million in Circle shares. Ark also acquired $8.86 million worth of BitMine stock. These purchases totaled $31.7 million in crypto-related investments.
The consistent buying pattern suggests Ark is building positions in multiple crypto companies. The firm’s strategy appears focused on established exchanges and crypto infrastructure providers. Wood’s firm continues to adjust its crypto exposure through regular trading activity.
Bullish stock trades under the ticker symbol on the New York Stock Exchange. The company’s Q3 earnings call is set for November 19.
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