Cathie Wood’s Ark Invest has made an aggressive commitment to the crypto industry, with a $172 million investment in Bullish (NYSE: BLSH) just after the exchange’s grand opening on the New York Stock Exchange.
The Ark had purchased shares in its three major ETFs: the ARK Innovation ETF (ARKK) bought an enormous amount of 1.7 million shares.
Also, the ARK Next Generation Internet ETF (ARKW) bought 545,416 shares, and the ARK Fintech Innovation ETF (ARKF) bought 272,755 shares.
The aggressive entrance reaffirms Wood’s faith in digital assets and blockchain platforms, even as the crypto markets remain volatile.
Bullish’s Record-Setting IPO Raises $1.1 Billion
According to UnoCrypto’s report, Bullish debuted on August 13, raising $1.1 billion from investors in an initial public offering that saw enormous demand and was priced at $37 per share.
The offering was 20x oversubscribed, and also had a 30-day greenshoe that allowed for another 4.5 million share purchase, indicating great demand from investors.
Several high-profile investors, such as Peter Thiel, backed Bullish, and they entered the public market with great metrics indicating there was strong interest in their equity.
The offering set a valuation of $5.4 billion for the company at inception. With an average of $2.5 billion traded daily in the first quarter of 2025 and total trading worth $1.25 trillion, Bullish entered with great magnitude and operational momentum.
Also Read: Cathie Wood’s Ark Invest Acquires 84K Coinbase Shares For $13.3M Amid Market Slump
Stock Skyrockets 83% on First Day of Trading
After making its entrance on the NYSE, Bullish shares blasted off with an 83.8% gain to end at $68, as noted by Google Finance.
The rally continued in after-hours trading, up another 11.2%, showing investors are still excited.
The opening price also came in above previous expectations, which were between $28–$33 per share over the past several weeks.
Notably, UnoCrypto also reported on July 19th, that Bullish Q1 2025 report showed their average daily trading at over $2.5 billion & has surpassed $1.25 trillion in cumulative volume since launch.
According to the exchange, proceeds from the IPO will be used for general corporate purposes, working capital, and possible acquisitions, providing also more opportunity to grow their operations and solidify their market position.
The explosive opening shows there is still a strong appetite for high-growth crypto businesses even with regulatory headwinds and macroeconomic challenges on the horizon.
Also Read: Cathie Wood’s ARK Invest Selects SOL Strategies as Exclusive Staking Services Provider for Its Fund
Ark Invest’s Ongoing Crypto Sector Expansion
Ark Invest has not made its first extensive move into the digital asset arena.
On August 2, Ark Invest bought nearly $30 million worth of Coinbase stock and an additional $17 million in Ethereum treasury outfit BitMine (BMNR).
Ark has developed a significant and growing stake in BitMine, now totaling more than $188 million, across its ETFs. Also, UnoCrypto reported that on 15th May, Ark Invest bought $9.4M worth of eToro shares on Nasdaq debut.
UnoCrypto also earlier reported that Cathie Wood’s ARK Investment Management has signaled interest in buying up to $150 million worth of Circle’s shares
The recent Bullish acquisition helps fulfill Ark Invest’s strategy of publicly increasing exposure to early growth opportunities in crypto-focused firms while maintaining a long-term conviction in digital assets.
Also Read: Cathie Wood Backs Ethereum Foundation’s Push For Scalability And Privacy
 across its ETFs after the exchange’s $1.1 billion IPO and 83% stock surge. The move underscores Cathie Wood’s growing conviction in digital assets.){kind=link}