Bullish IPO: ARK Invest Buys $172M in Shares on NYSE Debut

Cathie Wood’s ARK Invest made a bold move by picking up 2.5 million shares of Bullish, the crypto exchange, for roughly $172 million. This happened just as Bullish made its debut on the New York Stock Exchange, showing that ARK has strong faith in the future of crypto.

Bullish Hits the Market with a Bang

Bullish made its stock market debut on August 13 under the ticker BLSH, opening at $90—well above its $37 IPO price. The excitement quickly pushed the stock to $118, briefly pausing trading as demand surged. By the end of the day, it settled around $70, leaving investors thrilled with the lively debut.

ARK Invest Leads the Charge

Cathie Wood’s ARK Invest led the buying frenzy, purchasing shares across its main funds—ARKK, ARKW, and ARKF—for a total of $172 million. This move shows ARK’s active belief in Bullish and confidence in the future of crypto infrastructure. Moreover, it signals that institutional investors are willing to take big bets on digital assets.

Why Investors Are Excited

Several factors explain why Bullish attracted such attention:

Institutional Appeal: Bullish serves large clients and counts Peter Thiel as a backer. Therefore, ARK gained a secure foothold in regulated crypto markets.

Clearer Rules: Recent regulations make it easier for crypto firms to go public, which encourages big investors to act quickly.

Crypto Meets Media: Bullish owns CoinDesk, blending trading infrastructure with media reach. This combination aligns with ARK’s focus on innovative companies.

The Market Impact

Bullish’s IPO raised about $1.11 billion, giving the company a valuation between $5.4 billion and $5.6 billion. Early trading pushed the valuation as high as $13 billion, reflecting strong investor enthusiasm. Furthermore, the success of Bullish follows the Circle Internet IPO earlier this year, indicating that crypto listings are gaining momentum.

In addition, institutional interest like ARK’s could boost confidence across the crypto sector. With mainstream investors stepping in, digital-native companies may enjoy more stability and growth.

Final Thoughts

ARK Invest’s $172 million purchase of Bullish shares goes beyond a headline—it is a clear vote of confidence in crypto’s future. Bullish’s successful debut proves it can bridge digital assets and traditional finance. As investors continue to pour in, the next chapter of crypto on the stock market is already unfolding.