Ark Invest, led by Cathie Wood, invested $12 million to increase its stake in the Peter Thiel-supported exchange Bullish.

Ark Invest, led by Cathie Wood, purchased a total of $11.98 million in Bullish stocks through its three exchange-traded funds (ETF) on Monday. Bullish is a Crypto Assets exchange backed by billionaire Peter Thiel that launched Spot trading services in the U.S. in early October and obtained a key license in New York in September. Despite a significant fall in Bullish's stock price since its listing, Ark Invest continues to increase its holdings, demonstrating its long-term confidence in the Crypto trading platform.

Ark Invest Continues to Increase Holdings: Bullish Shares Weight Increased in Its ETF

Ark Invest has purchased 238,346 shares of Bullish stock, involving its three main ETFs:

• ARKK: Purchased 164,214 shares.
• ARKW: Purchased 49,056 shares.
• ARKF: Purchased 25,076 shares.
• Position Ratio: After purchases on Monday, Bullish stocks accounted for 0.97%, 0.98%, and 1.18% in ARKK, ARKW, and ARKF respectively.

Bullish Obtains Key License: Trading Volume Exceeds $1.5 Trillion

Bullish has achieved significant regulatory progress and business milestones recently, solidifying its market position as a Crypto Assets exchange.

• Regulatory breakthrough: The exchange obtained a BitLicense and money transmission license from the New York State Department of Financial Services in September and launched spot trading in the United States in early October.
• Trading Volume: Since its launch at the end of 2021, Bullish has accumulated a trading volume of over $1.5 trillion.
• Financial Performance: Bullish is set to announce its third quarter financial report on November 19. In the second quarter, its adjusted revenue was $57 million, with a net income of $108.3 million, reversing the net loss from the same period last year.

Stock Price Performance Lags: Bullish has fallen nearly 50% since its listing

Despite Ark Invest's continued buying, Bullish's stock performance is not ideal and is facing significant market pressure.

• Stock Price Trend: On Monday, the Bullish stock closed slightly down by 0.61%, at 50.26 USD. The stock has fallen 22.45% over the past month and has accumulated a decline of 47.48% since its debut on the New York Stock Exchange in August.
• Long-term perspective of investors: Cathie Wood's previous investment history indicates that she tends to make long-term investments in disruptive technology companies, even if they face significant price volatility in the short term. This continued increase in holdings suggests that Ark Invest believes Bullish has the potential to succeed in the Crypto Assets trading space.

Conclusion

Ark Invest has once again purchased shares in Bullish, emphasizing its strategic optimism about this Peter Thiel-backed crypto exchange, especially after it secured a key regulatory license in the U.S. and launched spot trading. Despite the stock price being under short-term pressure, Ark Invest's actions convey confidence in the long-term value of compliant, institutional-grade crypto trading platforms.