Ark Invest purchased $11.6 million worth of Bullish (BLSH) shares on Wednesday, extending its buying streak to nine consecutive trading days. The St. Petersburg, Florida-based investment firm has now accumulated roughly 2.1 million BLSH shares over the period, valued at approximately $58.75 million based on daily closing prices.
Details of the Latest Trade
Ark bought 364,134 Bullish shares through three of its exchange-traded funds (ETFs). Bullish is the parent company of crypto news outlet CoinDesk. BLSH closed at $31.88 on Wednesday, down 0.53% on the day. The stock had recovered from a low of around $24.15 on Feb. 5, when Bitcoin briefly dipped below $63,000. Year-to-date, BLSH remains 15.82% lower.
Robinhood and Circle Also Added
On the same day, Ark Invest purchased $33.8 million of Robinhood (HOOD) shares and $4.37 million of Circle Internet (CRCL), the stablecoin issuer. HOOD dropped 8.8% and CRCL fell 3.16% on Wednesday. Ark sees the downturn in crypto-adjacent stocks as a buying opportunity, following a prolonged Bitcoin correction. BTC currently trades near $64,168.
Strategy Behind the Buying Spree
Ark's CEO Cathie Wood has repeatedly touted the long-term potential of digital assets. The firm's repeated purchases suggest a conviction that current valuations are attractive. Bullish offers a regulated exchange platform; Robinhood provides retail access; Circle underpins the stablecoin ecosystem. By spreading capital across these three verticals, Ark is betting on the infrastructure layer of crypto, regardless of short-term price swings. The pattern also reflects a disciplined dollar-cost averaging approach via ETFs.