Key Takeaways
- Ark Invest acquired $21.2 million worth of Bullish stock on Tuesday.
- Three Ark funds have collectively invested over $120 million in the company.
- The asset manager has also accumulated more Robinhood stock in recent days.
With stock markets weighed down by tariff uncertainty and weak U.S. economic data, Ark Invest has been on a buying spree.
In recent days, the asset manager has doubled down on freshly-listed Bullish and Robinhood, cementing its position as a preeminent investor in public crypto companies.
Ark Backs Bullish
Ark Invest’s Ark Innovation ETF (ARKK) purchased an additional 356,346 Bullish (BLSH) shares on Tuesday to replenish stock acquired during the company’s New York Stock Exchange (NYSE) debut last week.
At the end of Tuesday, the fund held 1,361,783 shares worth over $81 million.
Meanwhile, Ark’s Next Generation Internet ETF (ARKW) held BLSH stock worth $25.2 million, and the Ark Fintech Innovation fund (ARKF) had allocated just over $15 million to the crypto exchange operator.
Doubling Down on Robinhood
Ark Invest has also doubled down on Robinhood, snapping up around $39 million in HOOD stock over the past three trading days, including a $16.2 million purchase on Tuesday.
After Shopify, Robinhood is now ARKF’s second-largest portfolio company, with a 7.60% weighting. Meanwhile, HOOD allocations for ARKW and ARKK are 4.85% and 4.36% respectively.
Crypto Central to Cathie Wood’s Investment Vision
Across its three digital technology-focused funds, Ark has invested well over a billion dollars into crypto stocks and Bitcoin ETFs.
Founder Cathie Wood is typically bullish on the prospects of crypto market gtrowth. For example, in February, she predicted that Bitcoin could reach $1.5 million by 2030.
Despite offloading more than $90 worth of shares in July, the asset manager remains one of the largest investors in Coinbase.
Between them, ARKF, ARKK, and ARKW held COIN stock worth $667.3 million at Tuesday’s close.
The three ETFs also recently entered into positions in Bitmine, a bitcoin miner turned Ethereum treasury company.
Visit Our Secure Partners
James Morales is CCN’s blockchain and crypto policy reporter. He has been working in the news media since 2020, writing about topics such as payments, banking and financial technology. These days, he likes to explore the latest blockchain innovations and the evolving landscape of global crypto regulation.
With an educational background in social anthropology and media studies, James uses his platform as a journalist to explore how new technologies work, why they matter and how they might shape our future.
