Cathie Wood's Ark Invest Buys $177 Million in Bullish Shares After Big Crypto IPO

Key Points

1. Ark Invest bought 2,532,693 shares of Bullish (BLSH) across three ETFs—ARKK, ARKW, and ARKF—valued at approximately $177 million at the close of trading.

2. Bullish, which operates a crypto exchange and owns CoinDesk, priced its IPO shares at $37, with shares rising to $118 on the first afternoon of trading.

3. Ark Invest also holds significant positions in other crypto-related firms, including over 4.2 million shares of Circle (CRCL) valued at $626 million and over $1.5 billion in Coinbase (COIN) and Robinhood (HOOD).

4. Bullish’s successful IPO reflects a growing trend of crypto firms seeking public market listings, with exchanges like Gemini and OKX also showing interest in IPOs.

5. Shares of BLSH rose nearly 10% the following day, reaching $74.60, increasing the value of Ark Invest’s holdings.