Cathie Wood’s ARK Adds $12M to Bullish Bet Following Blockbuster Platform Launch
- ARK Invest increases stake in Bullish with a new $12 million share purchase across three ETFs.
- Bullish’s new crypto options platform hits $82 million trading volume within five days of launch.
The investment firm ARK Invest, led by Cathie Wood, has increased its investment in cryptocurrency exchange Bullish, buying about $12 million of new shares this week. The acquisition is made when Bullish is showing good momentum after its recent platform growth and regulatory success in the United States market.
The investment was spread over three flagship funds, with ARK Innovation ETF buying 164,214 shares, which is the highest number of shares being bought during the transaction. ARK Next Generation Internet ETF was able to add 49,056 shares to its portfolio, and ARK Fintech Innovation ETF purchased 25,076 shares in the exchange. This is the most recent purchase after a previous purchase last Friday, where the company purchased more than 5 million Bullish shares in several funds.
ARK has been a steady investor in Bullish since the exchange made a splash on the New York Stock Exchange in a big way with $1.1 billion earlier this year. In that first offering, the investment company bought about $172 million of the shares, which was a good indicator of optimism in the prospects of the platform. The continued accumulation strategy implies that ARK considers Bullish as a long-term investment in the cryptocurrency exchange industry environment.
Platform Innovation Drives Trading Activity
Bullish has recently introduced an all-purpose crypto options trading platform that has already achieved more than $82 million in trading volume in only five days of operation. The new product allows traders to use their full portfolio as security in the spot, futures and options markets at the same time. This cross-market collateralized system boosts the capital efficiency of institutional and retail traders who desire to have optimized position management in a variety of trading instruments.
Big institutional trading companies were involved in the platform launch, such as FalconX Global, Wintermute, and BlockTech, which indicated that the industry had confidence in the offering. The exchange highlighted its intention to fill the market inefficiencies that existed in the cryptocurrency options trading with better infrastructure and user experience.
Another milestone that Bullish made last month was the approval of BitLicense and money transmission authorization by the New York State Department of Financial Services. The regulatory approval allowed it to operate in 20 states in the US, and institutional clients BitGo and Nonco became launch partners. Bullish, which was established in 2021, has enabled more than $1.5 trillion in cumulative global trading volume.
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Cathie Wood’s ARK Adds $12M to Bullish Bet Following Blockbuster Platform Launch
- ARK Invest increases stake in Bullish with a new $12 million share purchase across three ETFs.
- Bullish’s new crypto options platform hits $82 million trading volume within five days of launch.
The investment firm ARK Invest, led by Cathie Wood, has increased its investment in cryptocurrency exchange Bullish, buying about $12 million of new shares this week. The acquisition is made when Bullish is showing good momentum after its recent platform growth and regulatory success in the United States market.
The investment was spread over three flagship funds, with ARK Innovation ETF buying 164,214 shares, which is the highest number of shares being bought during the transaction. ARK Next Generation Internet ETF was able to add 49,056 shares to its portfolio, and ARK Fintech Innovation ETF purchased 25,076 shares in the exchange. This is the most recent purchase after a previous purchase last Friday, where the company purchased more than 5 million Bullish shares in several funds.
ARK has been a steady investor in Bullish since the exchange made a splash on the New York Stock Exchange in a big way with $1.1 billion earlier this year. In that first offering, the investment company bought about $172 million of the shares, which was a good indicator of optimism in the prospects of the platform. The continued accumulation strategy implies that ARK considers Bullish as a long-term investment in the cryptocurrency exchange industry environment.
Platform Innovation Drives Trading Activity
Bullish has recently introduced an all-purpose crypto options trading platform that has already achieved more than $82 million in trading volume in only five days of operation. The new product allows traders to use their full portfolio as security in the spot, futures and options markets at the same time. This cross-market collateralized system boosts the capital efficiency of institutional and retail traders who desire to have optimized position management in a variety of trading instruments.
Big institutional trading companies were involved in the platform launch, such as FalconX Global, Wintermute, and BlockTech, which indicated that the industry had confidence in the offering. The exchange highlighted its intention to fill the market inefficiencies that existed in the cryptocurrency options trading with better infrastructure and user experience.
Another milestone that Bullish made last month was the approval of BitLicense and money transmission authorization by the New York State Department of Financial Services. The regulatory approval allowed it to operate in 20 states in the US, and institutional clients BitGo and Nonco became launch partners. Bullish, which was established in 2021, has enabled more than $1.5 trillion in cumulative global trading volume.
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Citi Says Crypto’s Weakness Stems From Slowing ETF Flows and Fading Risk Appetite