Cathie Wood’s ARK Invest recently increased its stake in Bullish, the digital asset exchange, by purchasing over $5 million in shares on Friday. The acquisitions were made across three of ARK’s exchange-traded funds (ETFs), signaling continued confidence in the cryptocurrency trading platform.
**Details of the Recent Purchase**
ARK Innovation ETF led the latest investment with 72,537 Bullish shares, followed by ARK Next Generation Internet ETF adding 21,354 shares. Meanwhile, ARK Fintech Innovation ETF contributed 11,122 shares to its portfolio. Bullish is listed on the New York Stock Exchange under the ticker symbol BLSH.
This move follows an earlier $8.27 million purchase made by ARK in mid-October through two of its funds. Since Bullish’s $1.1 billion debut on the NYSE in September, Cathie Wood’s funds have accumulated approximately $172 million worth of shares in the exchange.
**Bullish Stock Performance**
On the day of the latest purchase, Bullish shares closed at $50.57, marking a 1.24% gain after rebounding from earlier market volatility. This positive performance reinforces ARK Invest’s ongoing interest in expanding its holdings within the digital asset sector.
**Bullish’s Market Expansion and Support**
Bullish, backed by Block.one and led by CEO Tom Farley, recently celebrated its US market entry with a launch event in New York City. The event gathered leaders from the digital asset industry and underscored the platform’s growing momentum in the United States.
In early October, Bullish secured important regulatory approvals, including a BitLicense from New York regulators and a money transmission license. These licenses allow the exchange to operate across 20 US states, paving the way for broader market access.
**Platform Performance and Trading Volume**
Since launching globally in 2021, Bullish has processed over $1.5 trillion in trades, ranking it among the top 10 cryptocurrency exchanges by Bitcoin volume. It also holds a similar top 10 position for Ether trading.
The platform’s robust trading activity includes notable partnerships; spot trading began with BitGo as its first client, and Nonco joined as an initial trading partner. At present, Bitcoin trades at approximately $110,213, and Ether is priced around $3,872 on the exchange, reflecting Bullish’s strong integration with major cryptocurrency markets.
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Cathie Wood’s latest investment demonstrates ARK Invest’s belief in Bullish’s potential and the expanding role of digital asset exchanges in the evolving financial landscape.
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