Cathie Wood’s ARK Invest Buys $172M in Bullish Shares After 84% IPO Surge
Cathie Wood’s ARK Invest made a bold move into the cryptocurrency sector this week, acquiring 2.53 million shares...
Quick overview
- Cathie Wood's ARK Invest acquired 2.53 million shares of the crypto exchange Bullish across three ETFs, valued at approximately $172 million.
- Bullish's IPO was highly successful, closing 83.8% above its offering price and raising $1.1 billion, marking a strong debut in the crypto sector.
- The company's shares surged to an intraday high of $118, reflecting renewed investor interest in digital asset companies in 2025.
- Bullish's performance, along with other recent crypto IPOs, indicates a rebound in investor appetite despite ongoing regulatory challenges.
Cathie Wood’s ARK Invest made a bold move into the cryptocurrency sector this week, acquiring 2.53 million shares of the newly public crypto exchange Bullish across three of its exchange-traded funds (ETFs).
According to filings, the ARK Innovation ETF (ARKK) purchased 1,714,522 shares, the ARK Next Generation Internet ETF (ARKW) added 545,416 shares, and the ARK Fintech Innovation ETF (ARKF) took in 272,755 shares. At Bullish’s $68 closing price, the combined purchases were valued at roughly $172 million.
Bullish’s debut was one of the strongest IPO performances in recent memory. Shares closed 83.8% above their $37 offering price, giving the Cayman Islands-based company a market capitalization above $10 billion. After-hours trading pushed the stock another 11.2% higher.
Bullish Raises $1.1B in Second IPO Attempt
Bullish’s IPO priced well above initial expectations of $32–$33 per share, ultimately securing $1.1 billion through the sale of 30 million shares. The listing follows a failed 2021 attempt to go public via a SPAC deal, which collapsed amid tightening monetary policy and cooling crypto sentiment.
The company operates a global network of subsidiaries in jurisdictions such as Hong Kong, Singapore, the United Kingdom, Germany, and Gibraltar. Bullish also owns CoinDesk, a leading cryptocurrency media outlet.
Cathie Wood's Ark Invest has acquired 2.53M shares of crypto exchange Bullish, valued at $172M, following its impressive IPO that saw a 200% price surge. Institutional interest in crypto continues to rise. #Investing #Cryptocurrency
— Vincent Bu Lu (@VincentBuLu1) August 14, 2025
Key IPO highlights:
- Offer Price: $37 per share
- Opening Price: $90 per share
- Intraday High: $118 (215% above IPO price)
- Capital Raised: $1.1 billion
Crypto IPO Momentum Builds in 2025
Bullish’s blockbuster debut reflects renewed investor appetite for digital asset companies in 2025. The year has already seen major public offerings in the crypto space, including:
- Circle (USDC issuer): Raised $1.1 billion in June, soaring 167% on debut day.
- Gemini Exchange: Filed confidentially for a U.S. listing on June 6.
This wave of listings underscores how investor interest in blockchain-focused companies is rebounding despite regulatory uncertainty and past market volatility. With Bullish’s shares off to a strong start and ARK Invest making a high-profile bet, momentum in the crypto IPO market shows no signs of slowing.
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