Ark Invest Buys $4.4 Million in Bullish Shares as Stock Shows Signs of Recovery

Ark Invest has purchased a combined $4.4 million worth of shares in crypto exchange operator Bullish over the past two trading days, adding to its position as the stock attempted to recover from a recent decline.

According to Ark Invest’s daily trading disclosures, the firm bought 52,308 Bullish shares on Monday and another 69,712 shares on Tuesday.

The combined value of the purchases reached roughly $4.4 million based on Bullish’s closing stock prices during the two trading sessions.

Bullish Stock Rebounds After Five-Day Drop

Bullish shares had fallen 15.4% over the previous five trading days before recovering slightly on Tuesday Blockto market data. The stock rose 1.88% to close at $36.23, although it still remained down 16.7% over the past month.

Ark Invest regularly adjusts the holdings inside its ETFs to prevent any single stock from crossing 10% of a portfolio. This means the firm often rebalances positions when share prices move sharply.

Bullish Reports Mixed First-Quarter Earnings

Ark’s buying activity came shortly after Bullish reported mixed financial results for the first quarter. The company posted a net loss of $604.9 million, almost double the loss recorded during the same period a year earlier.

At the same time, adjusted revenue increased to $92.8 million, up from $62.4 million in the first quarter last year.

Bullish Chief Executive Officer Tom Farley pointed to the company’s recent $4.2 billion acquisition of Equiniti as an important growth opportunity. According to the company, the deal could combine Bullish’s tokenization technology with regulated issuer services to strengthen its blockchain business.

Bullish Remains Major Corporate Bitcoin Holder

Bullish became a publicly traded company in August 2025 after pricing 30 million shares at $37 each. The firm also remains the sixth-largest public corporate holder of Bitcoin, with nearly 24,300 BTC on its balance sheet.