Ark Invest bought more than 2.5 million Bullish (BLSH) shares on the first trading day on the New York Stock Exchange (NYSE).
The value of these shares exceeds 170 million USD, while Bullish's price increased by 84% to 68 USD/share, marking a standout among other cryptocurrency IPOs during the same period.
MAIN CONTENT
Ark Invest heavily invested in Bullish through three ETFs on the NYSE
Bullish shares increased by 84% after the first day of the IPO
Other cryptocurrency IPOs like Circle and eToro performed poorly
How did Ark Invest invest in Bullish shares on the IPO day?
On the first day Bullish was listed on the NYSE, Ark Invest purchased more than 2.5 million shares, distributed through three ETFs: ARKK, ARKW, and ARKF. This is a sign of Ark Invest's strong confidence in Bullish's potential in the cryptocurrency industry.
The asset value of this investment exceeds 170 million USD, indicating a well-structured stock selection process that enhances reliability and attracts investors.
What was the impact of Bullish's price volatility on the first trading day?
The price of Bullish shares increased by 84% compared to the IPO price, closing at 68 USD per share with a trading volume of 20.3 million shares. This volatility reflects a high level of interest from the market in this new cryptocurrency stock.
This also creates a distinct difference when compared to other cryptocurrency asset IPOs during the same period, such as Circle and eToro, which performed significantly worse.
Ark Invest strongly believes in Bullish by investing through leading ETFs, affirming its leading position in the innovative cryptocurrency market.
Quoted from Ark Invest representatives, August 2023
Compare the performance of Bullish with other cryptocurrency IPOs during the same period
Compared to Bullish, crypto companies like Circle and eToro recorded weak IPO performance during the same timeframe, with their stock prices not showing much positive movement, even experiencing some decline.
This indicates that the cryptocurrency market is distinctly differentiating in terms of growth potential and investor confidence in each newly listed company.
Frequently Asked Questions
How many Bullish shares did Ark Invest buy on the first day of the IPO?
Ark Invest purchased more than 2.5 million Bullish shares, distributed among three ETFs: ARKK, ARKW, and ARKF.
What was the closing price of Bullish shares on the first trading day?
The closing price of Bullish shares was 68 USD, an increase of 84% compared to the IPO price.
What was the trading volume of Bullish shares on the first day?
Trading volume reached 20.3 million shares on the first day on the NYSE.
How does Bullish's IPO performance compare to Circle and eToro?
Bullish has a positive performance and strong price increase, while Circle and eToro recorded poorer IPO performance.
What is the value of Ark Invest's investment in Bullish?
Ark Invest's investment in Bullish through three ETFs is valued at over 170 million USD.
Source: https://tintucbitcoin.com/ark-invest-mua-25-trieu-co-phieu/
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