Cathie Wood is at it again.
The head of Ark Invest continues to shuffle her high-conviction tech bets, this time scooping up shares of crypto-exchange operator Bullish Holdings (NYSE: BLSH) while trimming Palantir Technologies (PLTR) and Roku Inc. (ROKU).
According to Ark's Nov. 3 trade disclosure, the firm bought Bullish stock across three of its exchange-traded funds:
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164,214 shares in the flagship ARK Innovation ETF (ARKK),
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49,056 shares in the Next Generation Internet ETF (ARKW), and
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25,076 shares in the Fintech Innovation ETF (ARKF).
The combined position adds up to well over $12 million of exposure to Bullish, a company backed by PayPal co-founder Peter Thiel that runs a hybrid crypto trading platform for institutions.
Bullish (NYSE: BLSH) closed at $50.26 on Nov. 3, down 0.71% on the day and 2.21% in pre-market trading at $49.15. The Cayman Islands–based digital-asset exchange operator, which owns CoinDesk, has a market cap of $7.35 billion and is trading near the lower end of its $47.88–$118.00 year range after a volatile debut year.
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Cathie Wood is bullish on 'Bullish'
Bullish went public on the New York Stock Exchange in August 2025, raising roughly $1.1 billion and debuting near $37 a share before briefly hitting $90. The company describes itself as a next-generation exchange combining centralized liquidity and blockchain transparency.
Notably, Bullish (NYSE: BLSH) will report its third-quarter 2025 earnings on Nov. 19 at 8:30 a.m. ET, according to a company release.
As of Nov. 3, 2025, Bullish (NYSE: BLSH) ranks 38th among Ark Invest's total holdings, with an estimated $131.3 million position — equal to 0.84% of Ark's overall portfolio and roughly 2.6 million shares held across its ARKK, ARKW, and ARKF funds.
Cathie Wood's crypto and blockchain exposure (as of Nov. 4, 2025)
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Coinbase (COIN):$680.2 million (4.34%), Ark's largest crypto-related position and one of its most actively traded stocks in 2025.
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Robinhood (HOOD):$592.9 million (3.78%), reflecting Wood's conviction in the retail platform's expanding crypto trading business.
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ARK Bitcoin ETF:$203.1 million (1.3%), giving Ark direct exposure to Bitcoin through its in-house ETF structure.
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Block (NYSE: SQ):$199.2 million (1.27%), driven by its Bitcoin treasury strategy and payments integration.
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Bitmine Immersion Technologies (BMNR):$280.5 million (1.79%), signaling Ark's growing interest in Bitcoin mining infrastructure.
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Bullish (BLSH):$131.3 million (0.84%), representing 2.6 million shares in the Cayman Islands–based crypto exchange and data infrastructure company.
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3iQ Ether Staking ETF (ETHQ):$22 million (0.14%), offering institutional staking exposure to Ethereum.
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3iQ Solana Staking ETF (SOLQ):$12 million (0.08%), adding liquid staking access to Solana's ecosystem.
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Kaspi.kz (KSPI):$9.8 million (0.06%), a fintech-linked holding with early blockchain integrations in Central Asia.
Ark Invest's total crypto and blockchain allocation now exceeds $2.13 billion, spanning exchanges, miners, ETFs, and payment networks.
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Cathie Wood sells hot stocks
The same filing shows Wood sold 38,338 shares of Palantir, 21,793 shares of Roku, and slices of health-care holdings like Guardant Health (GH) and Adaptive Biotechnologies (ADPT).
The sales come after both Palantir and Roku logged big rallies this year — Palantir is up about 173% year-to-date, while Roku has climbed more than 80%, according to FactSet.
Wood has previously called Palantir "a very expensive stock" but also one with "no equal in the AI software stack," suggesting the latest move is more about taking profits than changing conviction.
Crypto markets turn lower
The timing of Wood's buys coincides with a pullback in crypto prices.
As of writing, Bitcoin (BTC) traded near $107,500, down 2.7% in 24 hours; Ethereum (ETH) slid 4.4%; and XRP fell 4.7%, according to CoinGecko. The global crypto market cap dropped about 4.7% to $3.6 trillion.
Even so, Wood remains unfazed. In her Big Ideas 2025 report, she reiterated a Bitcoin price target between $1.5 million and $2.4 million by 2030, calling digital assets "the most important monetary innovation since the internet."
Related: Cathie Wood bets on AI stock over Bitcoin again
This story was originally reported by TheStreet on Nov 4, 2025, where it first appeared in the Technology News section. Add TheStreet as a Preferred Source by clicking here.
