🚀 BLSH Stock Rockets 83% in NYSE Debut as Ark Invest Snaps Up $172M Position – Crypto Bull Run Fuel?

Wall Street got a taste of crypto-style volatility today as BLSH—a stock with heavy digital asset exposure—skyrocketed 83% on its NYSE debut. The surge came alongside Ark Invest's $172 million buy-in, sparking debates about whether traditional finance is finally chasing crypto's coattails.

Institutional FOMO or calculated bet?

Cathie Wood's fund dropped nine figures on the opening bell play, signaling either genius conviction or desperation to ride the blockchain wave. The move follows Ark's recent crypto ETF approvals—proving even boomer markets can't ignore decentralized finance forever.

Zero to hero in one trading session

From obscure ticker to top gainer, BLSH's debut outperformed 99% of 2025's IPOs. The rally suggests investors will swallow any asset—even traditional equities—if it smells like crypto upside. Just don't mention the 2022 crash PTSD.

As one syndicate trader quipped: 'Guess we're all degens now.' The real question? Whether this is smart money front-running retail... or another case of Wall Street dressing up speculation as 'innovation.'

Cathie Wood’s Ark Invest wasted no time jumping into the latest Wall Street crypto play, snapping up $172 million worth of shares in Bullish (NYSE: BLSH) on its very first trading day. Peter Thiel-backed crypto exchange Bullish (NYSE: BLSH) made a stunning entrance to Wall Street, with its stock price rocketing 83% on the first day of trading. 

Debuting on August 13 at $37, BLSH closed at $68 after its IPO was oversubscribed 20 times due to heavy demand. The company had already increased its offering to 30 million shares before listing, signaling strong institutional interest.

Bullish’s road to public markets has been long. In 2021, it attempted to go public via a SPAC merger, but regulatory hurdles derailed the plan. Now, with clearer crypto rules under the Trump administration, exchanges like Bullish and Circle (CRCL) are pursuing traditional IPOs. Circle’s earlier success, where the stablecoin issuer’s stock skyrocketed from $31 to nearly $300, raising over $1 billion. 

CEO Thomas Farley told investors that transparency and compliance are core to Bullish’s operations, values that align well with public markets. This boom comes amid greater regulatory clarity under the Trump administration, including the GENIUS Act for stablecoins and a pending crypto market Structure bill expected by September. Riding this momentum, Kraken, Gemini, and BitGo are all preparing for their own U.S. IPOs.

Cathie Wood’s Big Bet

On the very first day, Cathie Wood’s Ark Invest made a massive move, buying 2,532,693 BLSH shares across three of its ETFs. The ARK Innovation ETF (ARKK) scooped up 1.7 million shares, the ARK Next Generation Internet ETF (ARKW) added over 500,000, and the ARK Fintech Innovation ETF (ARKF) grabbed 272,000. 

Wood’s strategy of taking early positions in newly listed crypto-related companies is becoming a pattern. She also bought Circle shares during its June IPO and recently added stock in Jack Dorsey’s payments company, Block Inc.

Institutional Backing 

Before listing, Bullish secured strong institutional interest. BlackRock, the world’s largest asset manager, expressed plans to buy up to $200 million worth of BLSH shares, according to filings. This level of support from Wall Street heavyweights adds credibility to Bullish’s growth story.

Why It Matters for Crypto Stocks

Bullish’s blockbuster debut comes at a time when market sentiment toward crypto-related equities is turning more optimistic. With a clearer U.S. regulatory framework and growing institutional participation, traditional markets are showing a stronger appetite for crypto businesses. Ark Invest’s MOVE mirrors its strategy of getting early exposure to high-growth, disruptive companies, a playbook Cathie Wood has used with firms like Coinbase, Circle, and Block.

For investors, Bullish’s strong start could signal renewed momentum for crypto-focused stocks in public markets. If the exchange can deliver on its expansion plans and sustain trading volumes, this NYSE debut may be the start of a longer-term rally.

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