Bullish (BLSH) Stock Climbs 4% As Cathie Wood Cashes Out

TLDR

• ARK Invest sold 39,362 Bullish (BLSH) shares worth ~$1.56 million on March 23, spread across ARKK and ARKW ETFs
• BLSH stock rose 4.16% on the day ARK sold, closing around $39.55
• ARK had already sold 103,379 BLSH shares worth ~$3.93 million on March 20
• Despite the recent selling, ARK bought roughly 2.1 million BLSH shares worth ~$58–$60 million over nine days in February 2026
• Analysts have a Moderate Buy consensus on BLSH with an average price target of $47.83, implying ~20.9% upside

Cathie Wood’s ARK Invest sold a combined 39,362 Bullish (BLSH) shares on Monday, March 23, worth roughly $1.56 million, even as the stock climbed 4.16% that day.

Bullish, BLSH

The sales came through two ETFs: ARK Innovation ETF (ARKK) offloaded 31,154 shares, while ARK Next Generation Internet ETF (ARKW) sold 8,208 shares. BLSH’s last closing price was $39.55.

This wasn’t a one-off move. Just three days earlier, on March 20, ARK had already cut 103,379 BLSH shares for around $3.93 million — a larger sale that flew under the radar compared to Monday’s action.

The two-day total comes to 142,741 shares sold, valued at roughly $5.5 million combined. For context, ARK holds a position built up over months of aggressive buying.

In February 2026, ARK went on a nine-day buying spree in BLSH, picking up approximately 2.1 million shares for around $58–$60 million. Those purchases came in the wake of a post-earnings pullback in the stock.

What the Numbers Say

Bullish reported fourth-quarter 2025 adjusted revenue of $92.5 million and adjusted EBITDA of $44.5 million, both up year-over-year. Net loss widened to $563.6 million, though adjusted net income improved to $28.9 million.

Digital asset sales came in at $64.3 billion for the quarter, a slight dip. The company guided for 2026 subscription, services, and other revenue of $220 million to $250 million.

Adjusted operating expenses are expected to land between $210 million and $230 million for the full year.

Why ARK Is Trimming

The recent selling looks more tactical than a change in conviction. ARK Invest has historically bought BLSH during pullbacks and trimmed on price strength — Monday’s sale neatly fits that pattern, with the stock up over 4% on the day.

ARK is also rotating some capital into biotech. On Monday, the firm added 98,722 shares of 10X Genomics (TXG) for $1.89 million, even as TXG was also up 4.08% that day.

Crypto-linked names like BLSH tend to move sharply with Bitcoin prices and regulatory news, making them natural candidates for partial profit-taking after a strong run.

On TipRanks, BLSH carries a Moderate Buy consensus based on four Buy ratings and two Hold ratings. The average analyst price target sits at $47.83, implying roughly 20.9% upside from current levels.

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