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Ark Invest bought the dip on approximately $4.4 million of Bullish stock, following five consecutive days of declines.

MeNews
ME News, May 20 (UTC+8), Cathie Wood's investment firm Ark Invest bought approximately $4.4 million worth of Bullish stock through three exchange-traded funds (ETFs) over Monday and Tuesday this week. According to Ark's daily trading disclosures and the closing prices on those days, Ark bought 52,308 shares on Monday and 69,712 shares on Tuesday, involving three ETFs: Innovation ETF (ARKK), Next Generation Internet ETF (ARKW), and Blockchain and Fintech Innovation ETF (ARKF). The purchase came after a continuous drop in Bullish's share price. Over the past five trading days, Bullish's stock has fallen 15.4% cumulatively, but rebounded 1.88% on Tuesday to close at $36.23. Despite the slight recovery, the stock has still fallen 16.7% over the past month. Ark actively adjusts its ETF holdings to ensure that no single stock exceeds 10% of the fund portfolio. When certain asset values fluctuate significantly, it rebalances weights, and this increase in holdings is part of that routine management operation. On the fundamentals side, Bullish last week disclosed a mixed first-quarter performance. The company reported a net loss of $604.9 million, nearly double the loss compared to the same period last year, but adjusted revenue increased from $62.4 million in the same period last year to $92.8 million. CEO Tom Farley noted that the company's recent $4.2 billion acquisition of Equiniti is a potential growth catalyst, aiming to combine Bullish's tokenization technology stack with a regulated agency to create an integrated blockchain-enabled issuance service provider. Background information shows that Bullish went public in August 2025, issuing 30 million shares at $37 per share. According to Bitcoin Treasuries data, the company remains the sixth largest public holder of Bitcoin, holding approximately 24,300 BTC. (Source: ChainCatcher)
BTC-1.96%
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