Cathie Wood’s ARK Invest has expanded its investment in Bullish, the digital asset exchange that recently debuted on the New York Stock Exchange under the ticker BLSH. The firm acquired over $5 million worth of shares across multiple Exchange Traded Funds (ETFs).
According to daily trade disclosures released on Friday, the ARK Innovation ETF (ARKK) purchased 72,537 Bullish shares. The ARK Next Generation Internet ETF (ARKW) added 21,354 shares, and the ARK Fintech Innovation ETF (ARKF) acquired 11,122 shares.
This latest acquisition follows ARK Invest's purchase of $8.27 million in Bullish shares in mid-October through two of its funds. The firm has been consistently accumulating shares since the exchange's $1.1 billion debut on the NYSE. At the time of its IPO, ARK Invest bought approximately $172 million worth of Bullish shares across its various funds.
Bullish shares saw a slight increase on Friday, closing at $50.57 with a 1.24% gain. This recovery occurred after a period of market volatility. Bullish is backed by Block.one and is led by CEO Tom Farley.
Bullish Celebrates Successful US Launch
The recent share purchases by ARK Invest coincided with Bullish's official US launch event held in New York. The event brought together prominent figures from the digital asset industry to commemorate the exchange's expansion into the United States. Following the event, the firm posted on X (formerly Twitter), stating: "The energy in the room said it all — the future is Bullish."
In early October, Bullish officially launched its services in 20 US states after successfully obtaining both a BitLicense and a money transmission license from New York regulators. The platform commenced spot trading operations with BitGo and Nonco as its initial clients.
Since its global launch in 2021, Bullish has facilitated over $1.5 trillion in trades. The exchange is now recognized among the top 10 exchanges based on trading volume for Bitcoin (BTC) and Ether (ETH).