Ark Invest Amplifies Stake in Bullish as Cryptocurrency Exchange Stock Surges

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Cathie Wood’s investment firm, Ark Invest, continued to accumulate shares of Bullish on Monday, reinforcing its position as the cryptocurrency exchange’s stock experienced a significant upward move. The buying activity coincided with a positive trading session across broader equity markets.

According to the firm’s daily trading disclosure, Ark purchased a total of 57,164 shares of Bullish. These acquisitions were distributed across three of its actively managed exchange-traded funds. Based on the stock’s closing price for the day, the transactions were valued at approximately $1.83 million.

This latest investment follows a substantially larger purchase made by Ark just last Friday, when the firm acquired 393,057 shares of Bullish, valued at roughly $10.8 million. That earlier transaction was part of a portfolio rebalance that also saw Ark divest approximately $22.2 million worth of shares in the US-based cryptocurrency platform Coinbase.

The fresh purchases on Monday occurred as Bullish shares surged, closing the trading session up 16.76 percent at $32.05. This outperformed a gain of 1.29 percent for Coinbase, which ended the day at $167.25.

The positive sentiment extended to other significant cryptocurrency-linked equities, with shares of Circle advancing 5.36 percent and Bitmine adding 4.79 percent.