① This week, "Sister Wood" purchased $10.2 million worth of cryptocurrency exchange Bullish through three of her ETF funds. ① Stocks; ② This indicates that the well-known Wall Street fund manager is actively adjusting his portfolio in the cryptocurrency field; ③ The recent sharp fluctuations in the crypto market may have given "Sister Wood" an opportunity to buy more shares.
Cathie Wood, a well-known Wall Street fund manager, continued to expand the company's investment in the cryptocurrency sector on Monday (November 17) by purchasing a total of $10.2 million worth of shares in cryptocurrency exchange Bullish through three of its exchange-traded funds.
According to a trading report released by the company on Monday, its flagship fund, ARK Innovation ETF (ARKK), purchased 191,195 shares of Bullish stock, while ARK Next Generation Internet ETF (ARKW) purchased 56,660 shares; ARK Fintech Innovation ETF (ARKF) increased its holdings of Bullish stock by 29,208 shares.
This year, Ark Investments has been actively adjusting its cryptocurrency portfolio. Last Thursday (November 13), the company also purchased $7.28 million worth of Bullish, $15.56 million worth of Circle, and $8.86 million worth of BitMine.
Ark's latest increase in holdings comes at a time of significant volatility in the crypto market, with Bullish's stock trading on the New York Stock Exchange. The stock has seen three consecutive days of decline, closing down 4.5% on Monday at $36.75 per share, and has fallen 37.46% over the past month.
Earnings report to be released soon
Bullish, the cryptocurrency exchange backed by billionaire Peter Thiel, is reportedly scheduled to release its third-quarter financial report on the 19th of this month.
In the past second quarter, the company's net profit was $108.3 million, compared with a net loss of $116.4 million in the same period last year.
Despite a significant turnaround in net profit, the financial report reveals a complex picture. Excluding one-time items, the company's adjusted loss for the quarter was $6 million, compared to an adjusted profit of $4.8 million in the same period last year. Adjusted revenue was $57 million, down from $60.7 million last year. This may raise concerns in the market about the continued growth potential of its core business.
In early October, Bullish also received a BitLicense and funds transfer license from the New York State Department of Financial Services (NYDFS) and plans to launch spot trading services in the U.S. in October 2025, covering 20 states. The exchange stated that its cumulative trading volume has exceeded $1.5 trillion since the end of 2021.
(Article source: CLS)
