Ark Invest Loads 2.53M Bullish Shares in Three ETFs After 84 IPO Gains

Ark Invest, managed by Cathie Wood, has acquired 2.53 million shares of Bullish across three of its ETFs in the wake of the crypto exchange’s explosive IPO performance on the New York Stock Exchange. The shares were distributed among the ARK Innovation ETF (ARKK), which purchased 1.7 million shares, the ARK Next Generation Internet ETF (ARKW), which bought 545,416 shares, and the ARK Fintech Innovation ETF (ARKF), which acquired 272,755 shares. All transactions took place on Wednesday, a day after Bullish’s public trading debut [1].

Bullish’s IPO launched with shares priced at $37, exceeding the initially projected range of $32 to $33. The stock surged over 200% intraday from the IPO price, prompting a temporary trading halt due to the extreme volatility. By the end of the day, the stock closed at $68, reflecting an 84% increase over 24 hours [1]. This strong institutional appetite was anticipated ahead of the IPO, with BlackRock and ARK Investment Management expressing interest in acquiring up to $200 million worth of shares [1].

The total value of Ark Invest’s purchase is estimated at $172 million, based on the IPO price and the number of shares acquired. This move aligns with the firm’s ongoing strategy to position its ETFs in high-potential sectors such as emerging technology and digital assets. The investment also signals growing confidence in the institutional adoption of crypto, a trend supported by the Trump administration’s pro-crypto agenda [1].

Bullish’s CEO, Thomas Farley, highlighted the firm’s strategic positioning in a rapidly evolving market, stating in a letter to investors that the company is “uniquely positioned at the center of this market” [1]. Bullish, backed by Peter Thiel, has now joined the ranks of crypto firms seeking to gain traction in traditional financial markets. This IPO follows other high-profile crypto and tech listings, such as Circle and Figma, both of which saw significant share price increases following their market debuts [1].

Source:

[1] Ark Invest Buys 2.53M Bullish Shares Across Three ETFs – https://cryptonews.com/news/ark-invest-buys-2-53m-bullish-shares/