In a notable move within the cryptocurrency ecosystem, ARK Invest has increased its investment in Bullish, a digital asset exchange that recently listed on the New York Stock Exchange. Showing strong confidence in Bullish’s growth prospects, ARK acquired $5 million worth of shares across several ETFs, reinforcing its bullish stance on the platform’s expansion in the crypto market.
- ARK Invest will increase its stake in Bullish, purchasing more than $5 million worth of shares across multiple ETFs.
- The digital asset exchange recently debuted on the New York Stock Exchange and is generating increased interest from investors.
- Bullish’s U.S. launch coincides with ongoing regulatory approvals and strategic partnerships.
- The exchange reports significant trading volumes and ranks among the top platforms for BTC and ETH trading volume.
ARK Innovation ETF (ARKK) added 72,537 shares of Bullish, while ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) bought 21,354 and 11,122 shares, respectively. The acquisition follows a significant initial investment of $8.27 million in early October, shortly after Bullish made its $1.1 billion market debut. This strong institutional support reflects ARK’s optimism about Burish’s strategic position in the rapidly evolving crypto exchange landscape.
On Friday, Bullish stock rose 1.24%, rebounding from earlier volatility to close at $50.57. The platform, supported by Block.one and led by CEO Tom Farley, continues to gain momentum in the institutional cryptocurrency space.
Related: ARK Invest-backed company becomes largest holder of ETH outside the US
Bulls celebrate US launch as market presence grows
ARK’s recent acquisition coincided with Bullish’s official US launch event in New York, where notable figures from the digital asset industry gathered to celebrate the platform’s expansion across the US. The event highlighted Blish’s ambition to become a major player in the crypto trading ecosystem. “The energy in the room said it all. The future is bullish,” the platform posted on X.
Since its global launch in 2021, Bullish has processed over $1.5 trillion in trades, making it a top 10 exchange by trading volume for Bitcoin (BTC) and Ethereum (ETH). After obtaining licenses such as BitLicense and money transfer license from regulators in New York, its recent expansion into 20 US states marks a significant step towards establishing a national footprint. The platform launched spot trading in the US with BitGo and Nonco as initial customers, demonstrating its readiness to serve institutional and retail traders across the country.
With over $1.5 trillion in transactions worldwide, Bullish has established itself as a major player in the cryptocurrency trading sector, particularly in the Bitcoin and Ethereum markets. The company’s recent expansion in the US represents a strategic move to capture more market share amid increased interest from institutional investors and favorable regulatory trends, positioning the company as an emerging force in the competitive crypto trading environment.