Ark Invest buys Bullish and Robinhood shares amid crypto stock decline

Cathie Wood's ARK Invest purchased 356,346 shares of Bullish worth $21.2 million and 150,908 shares of Robinhood Markets worth $16.2 million. The purchases happened during a widespread decline in crypto-related stocks. 

ARK deployed $37.4 million total at Tuesday's closing prices through its ARK Innovation ETF (ARKK). The company disclosed the trades in its standard end-of-day reports. The firm listed share counts and dollar amounts based on closing prices but provided no commentary about the purchases.

The Bullish buying continues ARK's pattern since the company went public. On Bullish's first trading day, ARK bought more than 2.5 million shares across three ETFs. The ARK Innovation ETF (ARKK) now holds 1,165,397 Bullish shares, valued at about $69.35 million based on Tuesday’s close of $59.51.

ARK has been buying Robinhood for three straight trading days. The firm purchased about $14 million worth on Monday and $9 million worth the day before.

Both stocks dropped on August 19 along with other crypto-linked companies. Bullish fell 6.09% to close at $59.51 and declined further in after-hours trading. Robinhood dropped 6.54% to $107.50 with a small post-market decline. The drops came as technology and digital asset stocks faced selling pressure.

Robinhood has become a regular holding in ARK's main strategies. ARK reduced its Robinhood position last year to meet portfolio concentration rules for broker-dealer securities. The firm started building the position again in 2025 and has been active during recent market swings. 

Bullish operates a regulated crypto exchange and completed its initial public offering on the New York Stock Exchange recently. The company raised $1.1 billion by selling 30 million shares at prices above initial expectations. The stock jumped on its first day before stabilizing.