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Cathie Wood’s ARK Invest amplified its stake in Bullish crypto exchange on Monday, acquiring approximately 238,000 shares valued at around $12 million across its primary funds.
As per ARK’s daily trading disclosures, the ARK Innovation ETF (ARKK) procured 164,214 shares, the ARK Next Generation Internet ETF (ARKW) added 49,056 shares, and the ARK Fintech Innovation ETF (ARKF) secured 25,076 shares.
This action follows ARK’s acquisitions from the previous week. On Friday, the investment company obtained over $5 million worth of Bullish shares through several ETFs.
ARK has persisted in its accumulation since the exchange’s $1.1 billion debut on the New York Stock Exchange, when it purchased about $172 million worth of shares throughout its funds.
Related: Bullish shares rise as Q2 earnings exceed analyst predictions
Bullish experiences record volume following the launch of its crypto options platform
The buying surge occurred as Bullish reported exceeding $82 million in trading volume within five days of introducing its crypto options platform. This offering enables clients to utilize their entire portfolio as collateral across spot, futures, and options markets, improving capital efficiency.
Institutional collaborators, including FalconX Global, Wintermute, and BlockTech, engaged in the launch. “We’ve created a product that aims to address the challenges that currently exist in trading crypto options,” Bullish stated on X on Monday.
Bullish shares concluded at $50.26, reflecting a decline of 0.71% for the day, with after-hours trading indicating a slight drop to $50.02.
Related: ARK Invest-backed firm becomes largest ETH accumulator outside the US
Bullish expands to 20 US states
Last month, Bullish formally launched in 20 US states subsequent to acquiring its BitLicense and money transmission license from the New York State Department of Financial Services, a significant regulatory achievement for any crypto entity.
Bullish commenced its operations with two major institutional partners, BitGo and Nonco. Established in 2021, Bullish has already managed over $1.5 trillion in global trading volume and ranks among the top 10 exchanges by Bitcoin (BTC) and Ether (ETH) activity.
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