Bullish Stock Soars 83% on Wall Street Debut with 2.5M Ark Invest Buy
Bullish (NYSE: BLSH) made a big splash on Wall Street on August 13, jumping 83% from its IPO price. The stock opened at $37...
Quick overview
- Bullish's IPO on August 13 saw an impressive 83% increase, closing at $68 after opening at $37.
- The company upsized its IPO to 30 million shares, attracting significant institutional interest, including a major buy from Cathie Wood's Ark Invest.
- Strong backing from firms like BlackRock indicates growing confidence in regulated crypto platforms.
- Bullish's successful debut sets a precedent for future digital asset IPOs, highlighting investor demand for compliant crypto companies.
Bullish (NYSE: BLSH) made a big splash on Wall Street on August 13, jumping 83% from its IPO price. The stock opened at $37 and closed at $68, more than doubling in one day. The debut saw heavy trading volume as the market shows love for the digital assets platform.
Bullish had previously upsized its IPO to 30 million shares and got 20 times the amount subscribed. The company had tried to go public in 2021 via a SPAC merger but regulatory issues stalled the plan. With crypto regulations now clearer, Bullish and other companies like Circle (CRCL) are going for traditional IPOs. CEO Thomas Farley wrote in a letter to investors:
“We are going public because we believe the digital assets industry is about to enter its next leg of growth. Transparency and compliance are hallmarks of Bullish and align with public markets.”
Cathie Wood’s Big Buy
Institutional demand fueled the debut with Cathie Wood’s Ark Invest buying 2.53 million BLSH shares on day one. Breakdown by fund:
- ARK Innovation ETF (ARKK): 1.7 million shares
- ARK Next Generation Internet ETF (ARKW): 500,000+ shares
- ARK Fintech Innovation ETF (ARKF): 272,000 shares
Wood is known for buying into newly listed crypto companies, having bought into Circle (CRCL) and Jack Dorsey’s Block Inc. during their respective IPOs. Her big buy in shows she believes in Bullish’s growth story and the digital assets space.
ARK INVEST BETS BIG ON BULLISH IPO AS STOCK SOARS 83% ON DEBUT
ARK Invest acquired $172 million of Bullish shares across three ETFs.
Bullish stock surged 83.8% on its first trading day.
Cathie Wood doubles down on crypto exchange bets amid renewed market momentum.$BTC
— CryptoEdge (@EdGeraldX) August 14, 2025
Strong Institutional Support and Market Outlook
Beyond Ark Invest, Bullish got interest from big institutions. BlackRock was reportedly looking to buy up to $200 million in shares, a strong sign of interest from top-tier asset managers. Analysts see the IPO as a big deal for crypto exchanges looking to get legitimacy in public markets.
Key takeaways:
- Bullish’s IPO shows institutions are getting more confident in regulated crypto platforms.
- Day one stock performance shows retail and institutional demand.
- Thiel’s backing and Ark and BlackRock interest means market validation.
With its big debut, Bullish’s performance will set the bar for upcoming digital assets IPOs, proving investor appetite for compliant, transparent crypto platforms that can grow for the long term.
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