Cathie Wood’s ARK Invest ETFs (exchange-traded funds) snapped up 2.53 million shares of newly-listed crypto exchange Bullish (BLSH) on August 13. Bullish is a regulated digital asset exchange that focuses on cryptocurrency trading and providing liquidity in the market.
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The Peter Thiel-backed company had a blockbuster Initial Public Offering (IPO) yesterday, with its shares soaring over 200% intraday before closing up 84% at $68. The IPO was priced at $37 per share and is listed on the New York Stock Exchange.
Wood Bets Big on Crypto Exchange Bullish
The Bullish purchase was spread across three ARK funds, ARK Fintech Innovation ETF (ARKF), ARK Innovation ETF (ARKK), and ARK Next Generation Internet ETF (ARKW), with the total buy valued at roughly $172.22 million based on BLSH’s closing price of $68 on August 13.
The move highlights Wood’s continued confidence in crypto-focused investments, even as the sector faces market volatility.
ARK Invest’s other notable purchases included 56,939 shares of CareDx (CDNA) valued at about $709,459, and 17,724 shares of GeneDx Holdings (WGS) for $2.06 million, reinforcing Wood’s conviction in the genetic diagnostics and personalized medicine sectors.
ARK Trims Stakes in Guardant Health and Shopify
On the sell side, ARK sold 25,752 shares of precision oncology firm Guardant Health (GH) worth about $1.4 million.
In e-commerce, ARK reduced its stake in Shopify (SHOP), selling 21,240 shares worth over $3.1 million through the ARKF ETF. The sale comes after a week of consistent selling in Shopify, possibly reflecting a more cautious view on the company’s near-term growth prospects.
Let’s take a brief look at how all these stocks perform on TipRanks’ Stock Comparison Tool.
