Ark Invest Acquires Over 2.5 Million Shares of Bullish at IPO
Ark Invest acquired over 2.5 million shares of Bullish (BLSH) during its debut on the New York Stock Exchange, totaling a stake worth more than $170 million.
- Bullish shares rose as high as $102 from the IPO price of $37, closing at $68, an increase of 84%.
- The company sold 20.3 million shares in its initial public offering, attracting interest from BlackRock.
- Ark added 1,714,522 BLSH shares to ARK Innovation ETF (ARKK), 545,416 shares to ARK Next Generation Internet ETF (ARKW), and 272,755 shares to ARK Fintech Innovation ETF (ARKF).
- Bullish continued to rise, trading 15% higher despite broader crypto market declines.
- Other crypto-related stocks like Circle (CRCL) and eToro (ETOR) experienced slight decreases in value.
- Ark's previous investments in crypto firms include a significant purchase of Circle shares upon its IPO, which have appreciated considerably.
Bullish's successful launch and Ark's investment strategy reflect increasing interest in publicly traded crypto infrastructure companies amid ongoing market volatility.