- Ark Invest expands Bullish holdings with $11.98M purchase across three ETFs.
- Bullish shares drop 47% since debut as Ark maintains steady accumulation strategy.
- Exchange eyes Nov. 19 earnings after U.S. spot trading launch and $1.5T volume move.
Ark Invest has deepened its stake in Bullish, the cryptocurrency exchange backed by billionaire investor Peter Thiel, purchasing $11.98 million worth of shares across three of its exchange-traded funds on Monday. The move extends the firm’s exposure to the digital-asset sector during a broader period of price consolidation for Bullish stock.
According to Ark’s daily trading disclosure, the firm acquired a total of 238,346 Bullish shares on November 3 across three of its actively managed ETFs. The ARK Innovation ETF (ARKK) led the additions with 164,214 shares, while the ARK Next Generation Internet ETF (ARKW) bought 49,056 shares. The ARK Fintech Innovation ETF (ARKF) added another 25,076 shares, marking Ark’s latest round of purchases since the exchange’s public debut in August.
Following Monday’s trades, Bullish now accounts for 0.97% of ARKK, 0.98% of ARKW, and 1.18% of ARKF, reflecting Ark’s continued allocation to the emerging digital-asset infrastructure segment.
Growing Position Since Exchange Listing
Ark Invest initially acquired $172 million in Bullish shares when the company listed on the New York Stock Exchange earlier this year. The recent additions point to a strategic continuation of that position, even as Bullish’s stock performance has softened since its debut.
Data shows that Bullish closed Monday’s trading session down 0.61% at $50.26, with shares declining 22.45% over the past month and 47.48% since listing. However, the exchange’s next earnings report is scheduled for November 19, which will provide updated financial insights into its operations following the launch of its U.S. spot trading service.
U.S. Expansion and Trading Performance
Bullish began spot trading in the United States in early October after receiving both a BitLicense and a Money Transmission License from the New York State Department of Financial Services (NYDFS) in September. Since its 2021 launch, the exchange has reported processing over $1.5 trillion in cumulative trading volume.
In the second quarter, Bullish recorded $57 million in adjusted revenue, down from $67 million a year earlier, while achieving a net income of $108.3 million, reversing a $116.4 million loss from the prior year.
