#Bullish_IPO
ARK Invest Drops $172M on Bullish IPO as Stock Skyrockets 84%
Cathie Wood’s ARK Invest made a bold entrance into the newest crypto exchange listing, Bullish (BULL), scooping up 2.53M shares worth $172M across three ETFs in its market debut.
Breakdown of ARK’s Buy:
ARKK: 1,714,522 shares
ARKW: 545,416 shares
ARKF: 272,755 shares
At Bullish’s closing price of $68, the total buy-in hit $172M.
IPO Highlights:
IPO price: $37
Opened: $90
Intraday high: $118 (+215% from IPO price)
Closed: $68 (+83.8% from IPO)
After-hours: +11.2%
Market cap: $10B+
The Cayman Islands-based exchange raised $1.1B by selling 30M shares — exceeding its earlier $32–$33 pricing guidance. Bullish’s IPO comes after a failed SPAC attempt in 2021 and now operates globally through subsidiaries in Hong Kong, Singapore, the UK, Germany, Gibraltar, and also owns CoinDesk.
Crypto IPO Wave Building:
Circle (USDC): $1.1B raise in June, +167% first-day surge
Gemini: Filed for US listing on June 6
Rising digital asset prices + stronger regulatory clarity are reviving investor interest in crypto equities.
ARK’s aggressive IPO-day purchase signals strong conviction in Bullish’s growth prospects — and with more high-profile crypto listings in the pipeline, Wall Street’s appetite for digital asset companies is heating up fast.
