Cathie Wood’s Ark Invest has taken a major position in Bullish, purchasing $172 million in shares following the crypto exchange’s impressive New York Stock Exchange debut. On August 13, the ARK Innovation ETF acquired 1.7 million shares, ARK Next Generation Internet ETF bought 545,416, and ARK Fintech Innovation ETF added 272,755.
Bullish, founded in 2021 and backed by Peter Thiel, priced its IPO at $37—above expectations. It opened at $90, surged 200% at the start, and closed at $68, later rising another 11.2% after-hours.
The company raised $1.1 billion to fuel growth, bolster working capital, and pursue acquisitions. With its regulated, institutional-grade platform, Bullish aims to capitalize on improving U.S. crypto regulations.
Analysts say the IPO valuation attracted aggressive buying. Ark’s investment signals strong confidence in the exchange’s long-term prospects, highlighting renewed appetite for crypto-related stocks after months of sector uncertainty.
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