
Cathie Wood’s Ark Invest Purchases Bullish (BLSH) Stock Despite 32% Crash
Bullish (BLSH) stock has dropped 32% since its IPO debut, with Cathie Wood’s Ark Invest seizing a buy-the-dip opportunity.
Bullish (BLSH) stock has dropped 32% since its IPO debut, with Cathie Wood’s Ark Invest seizing a buy-the-dip opportunity.
Ark Invest doesn’t hesitate to join the race in purchasing the newly launched Bullish stock.
On July 28, Cathie Wood’s ARK Invest acquired 572,853 shares of Bitmine Technologies (BMNR) across three ETFs, totaling $20 million.
ARK Invest has trimmed its Circle holding by selling off $51.8 million worth of these shares across its 3 actively managed ETFs.
Ark Invest, the Cathie Wood-owned asset management firm has taken a new position in Coinbase Shares, following heavy stock market selloff.
Despite the future outlook, Bitcoin price remains volatile with $66 million liquidated from the market in the past 24 hours.
Unlike speculative tokens such as TRUMP, ARK Invest has historically focused on digital assets with clear use cases and long-term adoption potential.
Ark Invest is on track to lose its long-standing digital assets lead Yassine Elmandjra.
ARK Invest CEO Cathie Wood sees better crypto regulatory regime under Donald Trump in a development many crucially sought after.
The latest purchase brings Ark’s total holdings in Coinbase to approximately $67 million, representing 7.43% of the fund’s value.
Ark Invest’s recent decision to reduce its Bitcoin ETF holdings seems aimed at maintaining portfolio balance, not signaling reduced faith in Bitcoin.
Only a few days ago, the firm sold part of its shares in Coinbase.
Meanwhile, Coinbase recently released its Q2 2024 earnings report, surprising many market observers with its performance.
Crypto exchange Coinbase is soon to present its second-quarter results with expectations of doubling its revenue as well as a jump in profit.
Ark Invest’s current ARKB holdings in the ARKW ETF have a value of $162.5 million.