ARK Invest Doubles Down on Bullish Amidst Crypto Stock Rout

Cathie Wood’s ARK Invest significantly increased its investment in cryptocurrency exchange Bullish this week, purchasing $10.2 million worth of shares as the stock plummeted to record lows during a period of substantial declines for publicly traded crypto firms. This strategic move came through the ARKF fund and followed an increase from the ARKK ETF, with 191,195 Bullish shares purchased alongside additional purchases by ARKW, totaling 56,660 shares. The investment comes ahead of Bullish’s upcoming third-quarter earnings report scheduled for Wednesday. Despite reaching a record low price since its launch on Monday, the exchange is expected to release details regarding its financial performance.