Cathie Wood’s firm buys BLSH stock amid a 17% two-week decline, targeting crypto equities during market downturns.
Ark Invest purchased $12.5 million worth of Bullish (BLSH) shares over four consecutive trading days, including a $5 million buy on Thursday. The firm capitalized on a broader digital asset downturn, which has weighed on crypto-related equities in recent weeks.
BLSH shares fell 0.2% to close at $35.96 on Thursday, extending a 17% decline over the past two weeks. Ark Invest has historically used such pullbacks as entry points for cryptocurrency-linked investments.
The purchases were disclosed in emailed filings, with no immediate market reaction noted in the stock’s modest decline.