Ark Invest buys combined $4.4 million in Bullish shares as stock rebounds from five-day drop

Cathie Wood-led investment firm Ark Invest purchased a combined $4.4 million in Bullish shares across three of its exchange-traded funds so far this week, as the stock dipped over the past five trading days before rebounding slightly on Tuesday.

According to Ark's daily trading statements, the firm bought 52,308 shares in Bullish on Monday and 69,712 shares on Tuesday for its Innovation (ARKK), Next Generation Internet (ARKW), and Blockchain and Fintech Innovation (ARKF) ETFs.

The combined purchases were worth about $4.4 million based on the stock's closing prices on each day.

Bullish shares have fallen 15.4% over the past five days, though the stock rebounded 1.88% to close at $36.23 on Tuesday. Despite the modest recovery, the stock remains down 16.7% over the past month.

Ark actively adjusts its ETF holdings so that no single stock exceeds 10% of a fund's portfolio. This means Ark would rebalance weightings when the value of certain assets fluctuates significantly.

The purchases came after Bullish disclosed mixed first-quarter results last week. The company posted a net loss of $604.9 million for the quarter, nearly doubling its losses from a year earlier, while adjusted revenue rose to $92.8 million from $62.4 million in the same period last year.

Bullish CEO Tom Farley pointed to the firm's recent $4.2 billion acquisition of Equiniti as a potential growth catalyst. The company said earlier this month that the deal would unify Bullish's tokenization stack with a regulated agent to create an integrated blockchain-enabled issuer services provider.

Bullish went public in August 2025, pricing 30 million shares at $37 each. The firm remains the sixth-largest public corporate holder of bitcoin, with about 24,300 BTC, according to Bitcoin Treasuries data.