#BullishIPO

ARK Invest investment firm led by Cathie Wood acquired a significant stake in Bullish (BLSH) on Wednesday. The cryptocurrency exchange and news service, backed by Peter Thiel, debuted on the New York Stock Exchange on Wednesday as part of a highly anticipated public offering.

Bullish owns CoinDesk and provides analysis and data collection services related to cryptocurrencies. The company also operates the Bullish Exchange, a digital asset platform focused on institutional clients.

According to CNBC, since its launch in 2021, the total trading volume on the Bullish platform surpassed $1.25 trillion as of March 31.

According to daily trading updates, Wood and ARK acquired a total of 2.53 million shares of BLSH across three of its funds.

The firm added 1.71 million shares to its flagship ARK Innovation ETF (ARKK). The ARK Next Generation Internet ETF (ARKW) added 545,416 shares of Bullish. Wood added 272,755 shares to the ARK Fintech Innovation ETF (ARKF).

On Wednesday at noon, Bullish shares opened at $90 per share, nearly three times the planned IPO price of $37 per share. The shares rose to $118 and then fell to $68 at the close.