#Bullish Stock Jumps 5% After Winning New York
#BitLicense Bullish shares jumped 5% to $53.12 on Wednesday after securing a BitLicense from New Yorks Department of Financial Services. The regulatory approval enables the Peter Thiel-backed crypto exchange to offer spot trading and custody services to institutional clients in Americas financial capital. The BitLicense and Money Transmission License represent crucial regulatory milestones for the platforms U.S. expansion plans. Bullish previously operated exclusively in Germany, Hong Kong, and Gibraltar before gaining access to New Yorks restrictive digital asset market.
#ARKInvest significantly increased its Bullish exposure on Tuesday with targeted purchases across two ETFs. ARK Innovation ETF acquired 120,609 shares while ARK Next Generation Internet ETF purchased 40,574 shares, totaling approximately $8.21 million in combined investments. The crypto exchange debuted on the NYSE in August through direct listing after years of delayed public market entry. Shares peaked at $104 on opening day before settling at $68, though theyve declined 22% from initial trading levels. KBW initiated coverage with a "market perform" rating and $55 price target, calling Bullish "a rare public play" on institutional crypto exchanges. The investment bank highlighted U.S. market expansion as the primary catalyst for future growth potential. CEO Tom Farley emphasized New Yorks leadership in virtual currency regulation and compliance standards. The BitLicense demonstrates the platforms commitment to building trusted, institutional-grade
#infrastructure that meets the highest regulatory requirements. Bernstein analysts suggest successful U.S. execution could position Bullish as a legitimate challenger to dominance. The platforms low-fee structure and institutional focus differentiate it from existing American crypto trading venues.