Cathie Wood's Ark Invest Scoops Up More BLSH Stock After It Hits One-Month Low

• Ark Invest bought 52,308 BLSH shares on Monday and spread its holdings in ARKK, ARKW, and ARKF.
• BLSH dropped sharply from early-May highs above $46 to close at $35.51 on Monday, its lowest level in a month.
• Since the company’s IPO, when Ark bought some 2.53 million shares, worth $172 million, Wood has been steadily adding to the position.

Cathie Wood-led Ark Invest bought 52,308 shares of cryptocurrency exchange Bullish (BLSH) on Monday, moving against prevailing market trends to expand its position in the stock. 

The firm split the shares across three of its actively managed exchange-traded funds (ETFs). This included ARK Innovation ETF (ARKK), which purchased 38,900 shares, ARK Next Generation Internet ETF (ARKW), which added 9,098 shares, and ARK Fintech Innovation ETF (ARKF), which acquired 4,310 shares, according to reports.

On Monday, BLSH closed at $35.51, hitting a new monthly low and marking a sharp pullback from its peak of over $46 in early May. Over the past week, the stock’s decline has accelerated amid rising trading volume.

Ark Invest, which has repeatedly added to its position in the stock during periods of broader market weakness, purchased approximately 2.53 million BLSH shares worth a total of around $172 million through three of its ETFs in August last year, the very day of BLSH’s IPO. 

BLSH stock was down 0.1% in pre-market trade. The stock has fallen by over 18% in the last 30 days. On Stocktwits, retail sentiment around BLSH remained in the ‘bullish’ zone with chatter at ‘high’ levels over the past day.

Stock Under Pressure 

Shares have been in decline since Bullish announced its first quarter( Q1) 2026 results on May 14.  The company posted adjusted earnings per share (EPS) of $0.13, below the consensus estimate of $0.17, a miss of 18.7%. This was the third EPS miss in the last four quarters, as revenue of $92.8 million also missed the consensus of $95.4 million. 

Shares dropped over 8% to $36.06 the day after earnings as Rosenblatt analyst Chris Brendler kept his rating at 'Neutral' but lowered his price target to $42.50 from $45. Analysts have pointed to weaker digital-asset trading activity as a key drag. 

Sentiment was also held back by execution risk related to the company’s $4.2 billion Equiniti acquisition, with management still targeting two regulatory licenses, due to be obtained in 2026, to enable Bullish to trade securities through its new tokenization framework.

While Cathie Wood continues to buy more, the deal’s visionary positioning in real-world asset tokenization is running into messier short-term math - added debt, share dilution, and regulatory approvals still pending.

Read also: Billionaire Mark Cuban Says Crypto's Biggest Players Now Want More Regulation, Not Less

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