Bullish has successfully completed its initial public offering (IPO), which attracted the attention of major investors like ARK Invest.
Overview of Bullish IPO
Bullish, a cryptocurrency trading platform that owns CoinDesk, raised $1.1 billion through its IPO, initially priced at $37 per share and closing at $68, which gives the company a market capitalization exceeding $10 billion. On its first trading day, Bullish shares increased by 83.8%.
Details of ARK Invest Purchases
ARK Invest acquired 2.53 million shares of Bullish through three of its ETFs: ARK Innovation ETF (ARKK) purchased 1,714,522 shares, ARK Next Generation Internet ETF (ARKW) added 545,416 shares, and ARK Fintech Innovation ETF (ARKF) bought 272,755 shares. The total value of these purchases amounted to approximately $172 million.
Trends in Crypto IPO Market
The IPO of cryptocurrency-related companies continues to attract attention, with several high-profile offerings this year such as Circle's IPO, which raised $1.1 billion. More such offerings are anticipated in the near future.
The success of Bullish's IPO and the active purchases by ARK Invest highlight the growing interest of investors in the cryptocurrency sector, which continues to evolve and attract attention.
