Ark Invest revealed big purchases of Bullish and Figma shares in its latest filing. The move shows the company still believes in the newly listed exchange, even though the stock has struggled since its debut.
Ark Invest Adds More Bullish Shares
According to Ark’s latest trade filing, the investment firm purchased $8.27 million worth of Bullish shares on September 16 through two of its exchange-traded funds. The ARK Innovation ETF (ARKK) acquired 120,609 shares, while the ARK Next Generation Internet ETF (ARKW) picked up 40,574 shares.
This move adds to Ark’s rapid accumulation of Bullish stock. During the week of Bullish’s $1.1 billion IPO last month, Ark bought around $172 million worth of shares spread across three of its ETFs.
Ark Invest Expands Portfolio With New Bets on Crypto and Tech
Alongside Bullish, Ark Invest also made another significant purchase on Tuesday. The firm bought 109,678 shares of Figma Inc., a deal valued at $5.9 million. This came after the popular design software company went public on July 31 with a NYSE listing.
In its IPO filing, Figma revealed it has strong ties to the crypto ecosystem. The company said it holds $70 million in Bitwise’s Bitcoin ETF. It also bought $30 million in USDC, planning to use it to buy Bitcoin (BTC).
Cathie Wood, CEO of Ark Invest, is known for backing bold ideas in digital assets and fintech. The asset manager’s portfolio now includes a wide range of companies linked to crypto and innovation.
The firm holds significant shares in BitMine, Coinbase, OpenAI, Bullish, and Robinhood, keeping its ETFs diversified. Its new investment in Figma shows growing interest in tech firms with ties to the crypto space.
Bullish Stock Shows Modest Gain Amid Growth Hopes
That same day, Google Finance showed Bullish shares closed at $51.36, up 0.55%. Still, the stock is under pressure, down 24.47% since its debut on the New York Stock Exchange.
Earlier this month, analysts at Bernstein highlighted Bullish’s potential in the institutional crypto market. The firm expects Bullish to become the second-largest exchange behind Coinbase once it launches its U.S. operations in 2026. Bernstein set a price target of $60, reflecting optimism about the company’s long-term growth.
Nevertheless, analysts at Bernstein have expressed optimism about the company’s future. They predict that Bullish could become the second-largest institutional crypto exchange behind Coinbase, which is making an effort to build what it calls the “everything exchange.” Bernstein analysts expect Bullish’s stock to reach an initial price target of $60 once its U.S. business launches in 2026.
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