ARK Invest Boosts Bullish Holdings Despite Sharp Price Decline
Cathie Wood’s firm continues to back institutional crypto infrastructure, adding millions to its stake in Peter Thiel’s exchange even as the stock struggles.
Bullish (BLSH) shares are down nearly 47% year-to-date, despite new product launches.
The exchange recently introduced a crypto options platform that has already seen $82 million in trading volume.
Bullish aims to position itself as an institutional-grade exchange focused on compliance and liquidity.
ARK Invest Expands Its Bet on Bullish
Cathie Wood’s ARK Invest has once again increased its exposure to Bullish, signaling continued confidence in the exchange’s long-term outlook despite ongoing volatility. The investment firm purchased an additional 238,000 shares, bringing its total position to just over $209 million since Bullish’s August debut on the New York Stock Exchange.
The bulk of the new shares went into ARK’s flagship Innovation ETF (ARKK), with smaller allocations in its Next Generation Internet (ARKW) and Fintech Innovation (ARKF) funds. Bullish now makes up roughly 1% of each ETF’s holdings, placing it alongside ARK’s other high-conviction tech and blockchain plays.
The move comes even as Bullish’s stock continues to slide, extending a months-long downtrend that’s wiped out nearly half its market value since the start of the year.
$82M+ in first 5 days – a #Bullish start for our new Options product.
Thank you to our day-one trading partners, including: @FalconXGlobal, @wintermute_t, BlockTech and more!
Eligible customers will be able to leverage their entire portfolio as collateral across spot, futures,… pic.twitter.com/iFwQjV2Mwl
— Bullish (@Bullish) November 3, 2025
A Struggling Stock, But Rising Institutional Momentum
While retail sentiment has been lukewarm, Bullish’s strategy remains focused squarely on institutions. The company’s new crypto options platform—launched with participation from Block Tech, FalconX, and Wintermute—recorded nearly $82 million in trading volume during its first week.
Bullish executives say the product is designed to address long-standing inefficiencies in crypto options trading, offering deeper liquidity and lower fees for professional traders. This expansion coincides with the company’s regulatory breakthrough in the U.S., where it secured both a BitLicense and Money Transmission License from the New York State Department of Financial Services.
The approvals allowed Bullish to begin operations across 20 states, cementing its status as one of the few crypto exchanges fully authorized to serve U.S. institutional clients.
Built for Institutions, Backed by Industry Veterans
According to Bullish president Chris Tyrer, the exchange was designed from the ground up for institutional-grade liquidity and performance. “We wanted to build a venue that bridges traditional finance standards with the flexibility of crypto markets,” Tyrer explained, emphasizing Bullish’s hybrid model that merges a central limit order book (CLOB) with an automated market maker (AMM) to maintain liquidity during volatile conditions.
Industry partners have echoed that message. Nonco’s Jeffrey Howard described Bullish’s compliance-first approach as a model for the future of digital trading, while BitGo CEO Mike Belshe called the exchange’s U.S. expansion a “milestone for regulated crypto innovation.”
ARK’s Broader Vision
For ARK Invest, the decision to keep buying Bullish aligns with its broader thesis of backing disruptive technologies that transform legacy industries. Despite the exchange’s price slump, ARK sees its growing institutional footprint and regulatory credentials as indicators of long-term strength.
The firm, which manages over $16 billion in assets, continues to focus on frontier technologies including AI, blockchain, robotics, and genomics—betting that short-term turbulence won’t derail long-term structural change.
Bullish may not be winning over the stock market yet, but its deep liquidity, institutional partnerships, and regulatory clarity place it at the center of what ARK believes could be the next major wave in financial infrastructure.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
