Cathie Wood’s Ark Invest Buys $172M in Bullish Shares - Coinspeaker

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Key Notes

  • Ark Invest brought over 2.5 million shares of the Bullish IPO.
  • Bullish stock rallied 84% on the day of its launch.
  • Ark’s three leading ETFs see mixed reactions from the investors.

Bullish, a Cayman Islands-based cryptocurrency exchange, launched its stock, BLSH, in an initial public offering on Aug. 13.

The IPO gained strong attention from investors, including Ark Invest, an investment management firm led by Cathie Wood.

Related article: Cathie Wood’s Ark Invest Buys $20M Shares of ETH Treasury Firm BitmineAccording to an X post by Ark Invest Daily, Wood’s company bought over 2.53 million shares of BLSH stock. While the exact price per share hasn’t been disclosed, the purchase is valued at $172.2 million as the price chart closed at the $68 mark, bringing an 84% rise right after the launch.

Ark Invest accumulated the Bullish shares through multiple funds: 1.71 million by ARKK, 545,416 by ARKW, and 272,755 shares were purchased through its ARKF fund.

Ark Invest’s CEO Wood, who is known for investing in emerging tech firms, seems to have brought strong momentum to the Bullish stock.

However, the three funds that purchased BLSH shares are seeing mixed reactions from investors.

ARKK gained 0.04% to $77.94. ARKF saw a 0.63% rise to $55.62. On the other hand, the ARKW fund declined by 0.12% and is trading at $162.15.

On Aug. 12, Ark Invest purchased 262,463 shares of Jack Dorsey’s Block Inc. Last month, it acquired $20 million worth of ETH Treasury Firm Bitmine shares.

nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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