Ark Invest Acquires $172 Million in Bullish Stock Following 83.8% Surge

Cathie Wood's Ark Invest has made a significant move into the crypto space, purchasing $172 million worth of shares in Bullish, a Gibraltar-based cryptocurrency exchange. The investment follows an 83.8% surge in Bullish's stock during its NYSE debut.

The flagship ARK Innovation ETF (ARKK) led the charge with 1.7 million shares, while ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) added 545,416 and 272,755 shares respectively. This aligns with Wood's strategy of increasing exposure to crypto-related firms as digital asset markets rebound.

Bullish, backed by Peter Thiel, priced its IPO at $37 per share but opened at $90, reaching a 200% intraday peak before settling at $68. The exchange raised $1.1 billion, earmarked for corporate growth and potential acquisitions in what appears to be a calculated bet on institutional crypto adoption.