ARK Invest Increases Stake in Bullish Following NYSE Debut

According to Cointelegraph, ARK Invest, led by Cathie Wood, has increased its investment in Bullish, a digital asset exchange that recently went public 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). This move is part of ARK Invest's ongoing strategy to expand its holdings in the digital asset sector. The recent acquisition includes 72,537 shares purchased by the ARK Innovation ETF (ARKK), 21,354 shares by the ARK Next Generation Internet ETF (ARKW), and 11,122 shares by the ARK Fintech Innovation ETF (ARKF). This follows a previous purchase in mid-October, where ARK Invest acquired $8.27 million in Bullish shares through two of its funds. Since Bullish's $1.1 billion debut on the NYSE, ARK has accumulated approximately $172 million worth of shares across its funds. Bullish shares experienced a 1.24% increase on Friday, closing at $50.57, as the market showed signs of recovery from earlier volatility. The exchange, supported by Block.one and led by CEO Tom Farley, continues to attract attention from investors. The timing of these purchases aligns with Bullish's recent launch event in New York, marking its expansion into the U.S. market. The event brought together leaders in the digital asset industry to celebrate this milestone. Bullish expressed enthusiasm about its future prospects, highlighting the positive atmosphere at the event. In early October, Bullish officially launched operations in 20 U.S. states after obtaining a BitLicense and a money transmission license from New York regulators. The platform commenced spot trading with BitGo and Nonco as its initial clients. Since its global launch in 2021, Bullish has processed over $1.5 trillion in trades and has established itself among the top 10 exchanges by Bitcoin (BTC) and Ether (ETH) trading volume. This expansion into the U.S. market is expected to further solidify its position in the digital asset exchange landscape.