ARK Invest scoops $172M in Bullish shares as stock soars 84% on debut
Cathie Wood’s ARK Invest scooped $172 million worth of Bullish shares across three ETFs as the crypto exchange surged 83.8% in its first day of trading.
Cathie Wood’s ARK Invest bought 2.53 million shares of crypto exchange Bullish across three of its exchange-traded funds (ETFs) on Wednesday, in the company’s successful IPO.
According to trade notifications, the ARK Innovation ETF (ARKK) picked up 1,714,522 shares, the ARK Next Generation Internet ETF (ARKW) added 545,416 shares and the ARK Fintech Innovation ETF (ARKF) bought 272,755 shares. At Bullish’s $68 closing price, the combined purchases were worth about $172 million.
Bullish’s stock ended its first trading session up 83.8% from its IPO price of $37, closing with a market capitalization above $10 billion. Shares jumped another 11.2% in after-hours trading.
