Cathie Wood’s ARK Invest Purchases $12 Million in Bullish Shares Amidst Surge in Options Trading

Cathie Wood’s ARK Invest has increased its holdings in the Bullish cryptocurrency exchange by buying approximately 238,000 shares valued at around $12 million. This investment comes as Bullish experiences significant trading volume following the launch of its crypto options platform, indicating a growing interest in cryptocurrency trading.

Key Takeaways

ARK Invest purchased $12 million worth of Bullish shares, adding to its existing position.
The ARK Innovation ETF (ARKK) led the acquisition with over 164,000 shares.
Bullish reported an impressive $82 million in trading volume shortly after launching its crypto options platform.
The exchange has officially launched in 20 US states after acquiring necessary licenses.

Cathie Wood’s ARK Invest purchases $12 million in Bullish shares while options trading rises

ARK Invest Expands Bullish Stake

Cathie Wood’s ARK Invest has boosted its position in the Bullish crypto exchange, acquiring about 238,000 shares on Monday for approximately $12 million across its primary funds. According to ARK’s daily trading reports, the ARK Innovation ETF (ARKK) bought 164,214 shares, while the ARK Next Generation Internet ETF (ARKW) increased its holdings by 49,056 shares. Additionally, the ARK Fintech Innovation ETF (ARKF) added 25,076 shares.

This latest purchase follows ARK's previous investments, where last week, the firm bought over $5 million worth of Bullish shares spread across different ETFs. Since Bullish made its debut on the New York Stock Exchange with a market valuation of $1.1 billion, ARK has steadily accumulated about $172 million worth of shares in total.

Related: Bullish Shares Rise as Q2 Earnings Surpass Analyst Expectations

Bullish Achieves Record Trading Volume

The buying momentum coincided with Bullish reporting a remarkable trading volume of over $82 million within just five days of launching its crypto options platform. This new offering allows customers to utilize their entire portfolio as collateral across various market types, including spot, futures, and options, effectively enhancing capital efficiency.

Bullish records $82 million in volume post-launch of options trading. Source: Bullish

High-profile institutional partners such as FalconX Global, Wintermute, and BlockTech participated in the platform's launch. Bullish commented on X, stating, “We’ve developed a product that aims to address the current challenges in trading crypto options.” On Monday, Bullish shares closed at $50.26, reflecting a minor decline of 0.71%. After-hours trading indicated a slight further dip to $50.02.

Bullish shares showed a slight decrease at the end of Monday’s trading. Source: Google Finance

Related: ARK Invest-Backed Firm Becomes the Largest ETH Holder Outside the U.S.

Expansion into 20 US States

Last month, Bullish officially launched its services in 20 US states after receiving its BitLicense and money transmission license from the New York State Department of Financial Services. This marks a significant regulatory achievement for the cryptocurrency exchange.

Since its inception in 2021, Bullish has managed to process over $1.5 trillion in global trading volume and has positioned itself among the top 10 exchanges in terms of Bitcoin trading.

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