Ark Invest purchased $5 million worth of Bullish (BLSH) stock on Thursday, the fourth day in a row it has added BLSH stock to its exchange-traded funds (ETF).
Cathie Wood’s investment manager has purchased $12.5 million worth of shares of the crypto group, which is also the parent company of CoinDesk, since Monday based on the stock’s closing prices, according to emailed information.
BLSH shares closed 0.2% lower at $35.96 on Thursday, after falling more than 17% over the past two weeks, during which time Bitcoin struggled to break above the $80,000 resistance.
Ark frequently uses broader declines in digital assets, which tend to push crypto stocks lower, as an entry point into cryptocurrency companies.
