ARK Invest Expands Holdings in Bullish

ARK Invest, led by Cathie Wood, has increased its stake in digital asset exchange Bullish, making a significant investment of over $5 million in shares following the company’s recent listing on the New York Stock Exchange under the ticker BLSH. This announcement comes just as Bullish celebrates its launch across twenty US states after securing the necessary BitLicense and money transmission license.

According to disclosures from Friday, three of ARK’s ETFs have purchased shares in Bullish: 72,537 shares via the ARK Innovation ETF (ARKK), 21,354 shares through the ARK Next Generation Internet ETF (ARKW), and 11,122 shares by the ARK Fintech Innovation ETF (ARKF). This new purchase follows ARK’s previously announced investment of $8.27 million in Bullish shares in mid-October, bringing its total to approximately $172 million across its funds since the exchange’s debut.

On Friday, Bullish’s share price climbed by 1.24%, concluding the day at $50.57. Bullish’s ongoing support from Block.one and strong leadership under CEO Tom Farley aim to enhance the platform’s offerings.

Bullish Marks its US Debut

The latest purchases coincided with Bullish’s US launch event in New York, where industry leaders gathered. Bullish tweeted, “The energy in the room said it all — the future is Bullish,” celebrating the expansion.

In early October, Bullish also launched operations in 20 US states, utilizing the services of clients BitGo and Nonco for spot trading. Since its global launch in 2021, the exchange has facilitated over $1.5 trillion in trades, positioning itself among the top 10 exchanges in terms of Bitcoin and Ether volumes.