Ark Invest Adds $5M Bullish Shares as Stock Declines 2.73%

Cathie Wood-led investment firm Ark Invest purchased an additional $5 million in Bullish shares on Thursday across three exchange-traded funds, as the stock declined. According to Ark Invest's daily trading disclosure, the firm acquired a total of 139,117 shares of Bullish on Thursday for its Innovation (ARKK), Next Generation Internet (ARKW), and Blockchain and Fintech Innovation (ARKF) ETFs, valued at approximately $5 million based on the closing price. This purchase follows Ark Invest's earlier acquisitions of $4.4 million worth of Bullish shares on Monday and Tuesday across the same three ETFs. Bullish's NYSE-listed shares closed down 2.73% at $35.96 on Thursday, with the stock falling 8.9% over the past five trading days and declining 14.2% over the past month.

Stock Performance

Bullish shares closed at $35.96 on Thursday, representing a 2.73% decline for the day. Over a longer timeframe, the stock has experienced significant losses: down 8.9% over the past five trading days and down 14.2% over the past month. The company's NYSE listing occurred in August 2025, with shares priced at $37 each at the initial public offering.

Q1 Financial Results

Bullish reported mixed first-quarter results last week. The company recorded a quarterly net loss of $604.9 million, nearly doubling the loss from the same quarter a year ago. However, adjusted revenue rose to $92.8 million, compared to $62.4 million in the first quarter of the previous year.

Strategic Acquisition and Holdings

Bullish announced a $4.2 billion acquisition of Equiniti, a transaction the company positioned as an opportunity to accelerate growth. CEO Tom Farley stated: "Broad adoption at institutional scale requires three things: end-to-end tokenization services, a single, unified ledger, and a broad base of blue-chip issuer relationships, at scale."

Bullish remains the sixth-largest public corporate holder of bitcoin, with approximately 24,300 BTC according to Bitcoin Treasuries data.