Why is Ark Invest buying more Bullish shares despite the stock falling?

Ark Invest appears to be increasing exposure to Bullish even as the stock weakens, suggesting Cathie Wood’s firm may see long-term upside in the company’s crypto and tokenisation strategy. The latest purchase added roughly $5 million in shares across three Ark ETFs.

How much Bullish stock did Ark Invest buy this week?

Ark Invest bought around 139,117 Bullish shares on Thursday alone, valued at approximately $5 million based on the closing price. Earlier in the week, Ark also purchased about $4.4 million worth of shares across the same ETFs.

Why did Bullish shares fall despite Ark Invest buying?

Bullish shares dropped 2.73% on Thursday and are down more than 14% over the past month following mixed first-quarter earnings. Investors appear concerned about the company’s widening losses despite improving revenue growth.

What were Bullish’s latest quarterly earnings results?

Bullish reported a net loss of $604.9 million in the first quarter, nearly double the loss from a year earlier. However, adjusted revenue rose to $92.8 million from $62.4 million, showing continued business expansion despite profitability challenges.

Is Bullish profitable right now?

No, Bullish is currently loss-making based on its latest quarterly results. The company is still investing heavily in growth, acquisitions and institutional crypto infrastructure, which may pressure short-term earnings.

What is Bullish trying to achieve with the Equiniti acquisition?

Bullish recently announced a $4.2 billion acquisition of Equiniti to strengthen its tokenisation and institutional services business. Management believes combining tokenisation infrastructure with established issuer relationships could accelerate institutional adoption of blockchain-based finance.

Why is tokenisation important to Bullish’s strategy?

Bullish is positioning itself around tokenisation, which refers to putting traditional assets like stocks or bonds onto blockchain networks. The company believes institutional investors will increasingly demand digital asset infrastructure and unified settlement systems.

How important is Bitcoin to Bullish’s business?

Bullish remains one of the largest public corporate holders of Bitcoin with about 24,300 BTC. Its large Bitcoin treasury means the company’s balance sheet and investor sentiment can be heavily influenced by crypto price movements.

Image for illustrative purposes only. Not a real photo.

Ark Invest adds $5M in Bullish shares

Written by Mahathir BayenaPublished May. 22 2026Last Updated May. 22 2026

Cathie Wood’s Ark Invest purchased another $5 million worth of Bullish shares on Thursday across three of its exchange-traded funds despite continued weakness in the stock.

Ark Invest bought 139,117 shares of Bullish for its ARK Innovation, ARK Next Generation Internet and ARK Fintech Innovation ETFs, according to the firm’s daily trading disclosure.

Bullish shares closed down 2.73% at $35.96 on Thursday, extending losses to 8.9% over the past five trading sessions and 14.2% over the past month.

The latest purchases followed additional Ark buying earlier this week, with the investment firm acquiring roughly $4.4 million worth of Bullish stock across the same ETFs on Monday and Tuesday.

Bullish reported mixed first-quarter results last week after posting a wider net loss of $604.9 million, almost double the loss recorded a year earlier, while adjusted revenue increased to $92.8 million from $62.4 million.

“Broad adoption at institutional scale requires three things: end-to-end tokenisation services, a single, unified ledger, and a broad base of blue-chip issuer relationships, at scale,”

Said Bullish chief executive, Tom Farley, earlier this month.

Bullish also recently announced a $4.2 billion acquisition of Equiniti as the company seeks to accelerate institutional growth and expand its tokenisation infrastructure business.

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

At the time of reporting, Bitcoin price was $77,466.52.