ARK Invest’s $172M Power Move: Bullish Shares Skyrocket 84% on Debut

Wall Street's innovation evangelists just made a splash—ARK Invest gobbled up $172 million in bullish shares as its latest play exploded 84% out the gate. Cathie Wood's crew keeps betting big on disruption, and today the market paid up.

The Numbers Don't Lie

That 84% first-day pop isn't just a win—it's a middle finger to short sellers. The stock's debut performance screams institutional FOMO, with ARK doubling down like they've got a hotline to the future.

The Cynic's Corner

Another day, another 'groundbreaking' ETF. At least this one delivered more than buzzwords and management fees—for now. Remember kids: past performance is just that... past.

Bullish shares end the day up by 83%. Source: Google Finance

Bullish raises $1.1 billion

The Cayman Islands-based company, which operates a cryptocurrency exchange and owns CoinDesk, priced its IPO above earlier expectations of $32–$33 per share, raising $1.1 billion through the sale of 30 million shares, according to Reuters.

Notably, this marked Bullish’s second attempt at going public. Previously, the exchange tried to go public via a special purpose acquisition company (SPAC) deal in 2021, but saw its earlier efforts collapse as markets soured amid rising interest rates.

As reported, Bullish operates through subsidiaries across multiple jurisdictions, including Hong Kong, the Cayman Islands, Singapore, the United Kingdom, Germany and Gibraltar.

Crypto IPO craze continues

The listing followed a wave of high-profile offerings this year. Circle, the issuer of the USDC (USDC) stablecoin, raised $1.1 billion in its public debut in June, exceeding expectations and marking a record-setting 167% gain on its first day of trading.

On June 6, Gemini, the exchange founded by Cameron and Tyler Winklevoss, also filed confidentially for a US listing. Both brothers supported Trump’s reelection bid and have backed crypto-focused political action committees.