Ark Investment Management, the firm led by Cathie Wood, has demonstrated its strong belief in the future of digital assets by indicating an interest in purchasing a substantial stake in the crypto exchange Bullish.
The move comes as Bullish, a company backed by venture capitalist Peter Thiel, successfully launched its initial public offering (IPO) on the New York Stock Exchange. The investment from Ark is a clear signal of growing institutional confidence in the crypto sector, particularly for exchanges targeting professional investors.
ARK Invest has also deepened its crypto exposure by acquiring $182 million worth of BitMine shares across multiple ARK funds, marking a significant vote of confidence in BitMine’s aggressive Ethereum strategy.
Bullish’s IPO was a significant success, with the company raising $1.11 billion after pricing its shares at $37, which was above the initial target range. The strong investor demand propelled the company’s valuation to approximately $5.41 billion on its debut. Bullish’s stock price surged, more than doubling on its first day of trading. The company, led by former New York Stock Exchange president Tom Farley, focuses on providing trading services for institutional clients. This strategy positions Bullish for more consistent revenue compared to exchanges that rely heavily on fluctuating retail volumes.
Ark Invest bought 2,532,693 shares of the Bullish $BLSH IPO today 👀 pic.twitter.com/MXMdF6R8vP
— The Market Matrix (@MarketMatrixs) August 14, 2025
This development occurs amid a supportive regulatory climate in the United States, which has seen an increase in crypto-friendly policies. The passage of the GENIUS Act, which provides a federal framework for stablecoins, and a more favourable stance from the administration have fueled investor appetite for digital asset firms.
Notably, Bullish is one of several major crypto players, including Circle and Ripple, to pursue a national banking charter or go public, aiming to enhance trust and navigate the evolving regulatory landscape. Ark Invest’s participation reinforces this trend toward institutional adoption and the financial maturation of the crypto industry.
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