Bullish (BLSH) stock has dropped 32% since its IPO debut, with Cathie Wood’s Ark Invest seizing a buy-the-dip opportunity.
Following the successful IPO listing last week, stock price of Peter Thiel-backed crypto exchange Bullish (NASDAQ: BLSH) has been on a free fall with a 32% drop over the past week.
Cathie Wood’s Ark Invest finds an opportunity here, scoping more than 350,000 BLSH shares on Tuesday, August 19.
Cathie Wood’s Ark Invest Buys the Bullish (BLSH) Stock Dips
Cathie Wood’s ARK Invest increased its exposure to crypto-related stocks, acquiring more shares of Bullish and Robinhood during a sector-wide downturn.
Trade disclosures from Tuesday show that ARK’s flagship ARK Innovation ETF (ARKK) purchased 356,346 shares of Bullish worth roughly $21.2 million and 150,908 shares of Robinhood Markets valued at about $16.2 million.
Here's every move Cathie Wood and Ark Invest made in the stock market today 8/19 pic.twitter.com/o0UxQ0ozb2
— Ark Invest Daily (@ArkkDaily) August 20, 2025
This is not the first purchase of Bullish (BLSH) stock by Ark Invest. Last week, the company purchased 2.53 million Bullish shares, worth over $172 million, across three ETFs after the exchange’s debut on the New York Stock Exchange.
Robinhood has also been a key target, with ARK adding shares for three straight sessions, including $14 million worth on Monday and $9 million on Friday.
A day before, crypto exchange Bullish announced it had secured $1.15 billion in proceeds from its recent initial public offering in the form of stablecoins.
The deal marks a U.S. IPO milestone, being one of the first to use stablecoins. Jefferies coordinated the minting, conversion, and delivery of the stablecoins.
BLSH Stock Comes Under Strong Selling Pressure
The Bullish stock had a blockbuster debut on Wall Street last week, hitting a high of $96 on Day 1.
However, since then, the stock has been trending downwards and has corrected by 32% on the weekly chart.
As of now, the BLSH stock is trading at $59.51, which is still above its IPO price of $37.
The latest selling pressure comes amid the broader correction across crypto stocks. The decline was widespread, with crypto-linked stocks seeing sharp losses.
Coinbase dropped 5.82%, Galaxy Digital fell 10.06%, Strategy slid 7.43%, and Circle declined 4.49%. Broader markets also felt the pressure, as the Nasdaq Composite closed down 1.46%, reflecting broader investor concerns.
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