ARK Invest, led by Cathie Wood, has expanded its holdings in Bullish, the digital asset exchange that recently commenced trading on the New York Stock Exchange under the ticker symbol BLSH. Friday's trading disclosures revealed purchases exceeding $5 million across multiple Exchange Traded Funds (ETFs).
The ARK Innovation ETF (ARKK) added 72,537 shares of Bullish, while the ARK Next Generation Internet ETF (ARKW) acquired 21,354 shares, and the ARK Fintech Innovation ETF (ARKF) purchased 11,122 shares. This latest acquisition follows an earlier investment in mid-October, where ARK invested $8.27 million in Bullish shares through two of its funds.
The firm's accumulation strategy has continued since Bullish's $1.1 billion debut on the NYSE, during which ARK acquired approximately $172 million worth of shares across its various investment vehicles.
Bullish shares experienced a 1.24% increase on Friday, closing at $50.57, recovering from previous market volatility. The exchange is backed by Block.one and is under the leadership of CEO Tom Farley.
These purchases coincided with Bullish's US launch event in New York City, which brought together key figures in the digital asset space to commemorate the expansion. The company posted on X, stating, "The energy in the room said it all — the future is Bullish."
In early October, Bullish officially launched in 20 US states after successfully securing both a BitLicense and a money transmission license from New York regulators. The platform initiated spot trading operations with BitGo and Nonco as its initial clients.
Since its global launch in 2021, Bullish has processed over $1.5 trillion in trading volume and is currently ranked among the top 10 exchanges based on Bitcoin (BTC) and Ether (ETH) trading activity.
Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.
