Ark Invest, the investment firm led by Cathie Wood, has continued to deepen its exposure to cryptocurrency-related companies, purchasing shares of Peter Thiel-backed crypto exchange Bullish for the tenth consecutive trading day.
According to the firm’s latest disclosures, Ark acquired 364,044 Bullish shares on Wednesday across three of its exchange-traded funds, an investment valued at roughly $11.6 million based on the stock’s closing price. The steady accumulation underscores Ark’s long-term view on digital asset infrastructure, even amid recent market volatility.
Bullish, which had fallen to a recent low of $24.90 on Feb. 9, has rebounded over the past five sessions, climbing 28.3%. The stock closed Wednesday at $31.88, down 0.5% for the day.
Ark’s approach to portfolio management emphasizes diversification. The firm caps individual holdings at no more than 10% of a fund’s total assets, meaning it routinely rebalances positions as market values shift. With Bullish shares recovering in recent days, further adjustments could follow depending on broader market movements.
In addition to its Bullish purchases, Ark bought 75,559 shares of Circle, the issuer of the USDC stablecoin, valued at approximately $4.4 million. Circle’s stock declined 3.2% on Wednesday to close at $57.86. While the shares have gained 7.8% over the past five days, they remain down 30% over the past month.
The firm also added 433,806 shares of Robinhood, a move worth about $33.8 million. Robinhood has increasingly positioned itself within the digital asset space alongside its core brokerage business.
The broader market showed limited movement on Wednesday. The Dow Jones Industrial Average slipped 0.1%, the Nasdaq Composite fell 0.2%, and the S&P 500 ended the day flat.
In the crypto market, bitcoin rose 0.2% over the past 24 hours to $67,143, while ether gained 0.9% to trade at $1,968.
Ark’s continued buying suggests confidence in the long-term prospects of companies tied to digital assets, even as short-term price swings persist across both equity and crypto markets. For investors watching the sector, Ark’s moves offer a clear signal: conviction remains, despite the volatility.
