Fresh Purchases Across Three ARK ETFs
Cathie Wood’s ARK Invest increased its exposure to Bullish (NYSE: BLSH), the digital asset exchange that listed on the New York Stock Exchange earlier this year, purchasing more than $5 million worth of shares across its exchange-traded funds. According to Friday’s trade disclosures, ARK Innovation ETF (ARKK) bought 72,537 shares, ARK Next Generation Internet ETF (ARKW) added 21,354, and ARK Fintech Innovation ETF (ARKF) acquired 11,122 shares.
The combined purchase builds on ARK’s earlier buying spree, bringing its cumulative position in Bullish close to $185 million since the exchange’s public debut. The firm previously acquired $8.27 million in Bullish stock in mid-October, following an initial $172 million allocation shortly after the company’s $1.1 billion IPO. ARK’s continued accumulation signals confidence in the exchange’s liquidity model and regulatory footing as it enters the U.S. market.
Investor Takeaway
ARK’s steady buying of Bullish shares suggests growing conviction in regulated, institutional crypto exchanges over offshore venues.
Bullish Shares Steady After Volatile Start
Bullish shares gained 1.24% on Friday to close at $50.57, recovering from earlier market swings. The stock has traded between $46 and $53 over the past two weeks, reflecting broader volatility in crypto-linked equities. Analysts attribute the rebound to renewed investor interest following the firm’s U.S. expansion and its inclusion in several thematic ETFs.
Bullish, launched by Block.one and led by former New York Stock Exchange president Tom Farley, went public in August through a high-profile offering that valued the company above $12 billion. The firm has promoted itself as a regulated alternative to offshore exchanges, emphasizing transparent reserves, institutional custody, and compliance-first operations.
U.S. Expansion Gains Momentum
The timing of ARK’s latest investment coincided with Bullish’s U.S. launch event in New York. The company announced its rollout across 20 states after securing both a BitLicense and a Money Transmission License from New York regulators. Initial clients include BitGo and Nonco, two firms known for institutional crypto services.
“The energy in the room said it all — the future is Bullish,” the exchange posted on X after the event. The company said it plans to expand its spot trading and custody services to additional states through 2026. The launch followed months of preparation as Bullish aligned its operations with U.S. compliance requirements under the NYDFS framework.
Investor Takeaway
With ARK as a visible backer, Bullish gains added visibility among institutional investors seeking U.S.-compliant digital asset exposure.
Trading Growth and Market Standing
Since its global rollout in 2021, Bullish has processed more than $1.5 trillion in trades and ranks among the top ten exchanges by Bitcoin and Ether volume, according to company data. The exchange’s model combines automated liquidity pools with centralized order book infrastructure, targeting both professional traders and institutions.
Analysts see ARK’s exposure as part of a broader bet on regulated digital finance. While Coinbase remains the largest U.S. exchange by trading volume and assets under custody, Bullish’s listing and regulatory approvals have strengthened its credibility. The combination of institutional backing, transparent operations, and gradual U.S. expansion could make Bullish one of the more durable entrants in the next wave of public crypto companies.
For ARK, the trade fits its pattern of doubling down on fintech and blockchain equities during periods of market softness. The investment firm has used pullbacks in digital asset stocks to expand positions in companies it views as structural beneficiaries of regulated crypto adoption.