Cathie Wood Ark bought USD $ 172 million Bullish shares in its debut

By Hannah Pérez

Cathie Wood’s investment firm opted hard for Bullish on its first day of negotiations. Bullish’s “BLSH” actions rose more than 200% since its IPO price.

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• Cathie Wood’s investment firm opted hard for Bullish in its debut.
• Bullish, a cryptocurrency exchange backed by Peter Thiel, went to the bag yesterday.
• He surprised Wall Street when his actions shot more than 200%.
• Ark Invest seeks exposure to the crypto industry through its investment funds.

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THE INVESTMENT MANAGER ARK Investled by Cathie Wood, acquired actions of the cryptocurrency exchange platform Bullish for a value of USD $ 172 million during its debut in the New York Stock Exchange (NYSE).

ARK Invest added 2.53 million shares of Bullish Three of its funds quoted in the Stock Exchange (ETF): Ark Innovation (Arkk), Ark Next Generation Internet (ARKW) and Ark Fintech Innovation (ARKF), with the first monopolizing by themselves 1.7 million shares.

The investment, which was informed by The Blockoccurred in a context of great enthusiasm by institutional investors, since the actions of Bullish More than 200% were fired from their initial price of the initial public offer (IPO) of USD $ 37, reaching the USD $ 112 minutes after the launch, as reported on Wednesday.

The stellar debut for Bullish on Wall Street

Bullisha cryptocurrency bag backed by billionaire Peter Thiel, It surprised yesterday to the market with a spectacular stock debut. The IPO, which raised USD $ 1.1 billion, exceeded expectations by extending 20.3 million shares due to a lawsuit that, according to Bloombergit was more than 20 times higher than the initial offer.

In addition to ARKother financial giants, such as Blackrockthey also showed interest in the IPO, with intentions to acquire up to USD $ 200 million in shares. Initially, Bullish He had planned to offer 30 million shares with a price range of USD $ 28- $ 31, subsequently adjusted to USD $ 32- $ 33 before the debut.

The action reached a market capitalization greater than the USD $ 16 billion, with the shares quoting above USD $ 112 and stopping at least twice for volatility in the first minutes of negotiation. This performance reflects the increasing appetite of Wall Street for digital assets, especially in a context of regulatory advances in the United States and a booming market.

ARK invests at a favorable moment for crypto

The success of Bullish Follow the wake of other crypto companies that have captured the attention of institutional investors.

For example, Circleissuer of the Stablecoin USDC experienced an increase of up to 750% in its first month of negotiation from its IPO in June, benefited by the enactment of the genius law in July, which established a clear regulatory framework for the stablecoins in the US. UU. This most favorable regulatory environment, combined with the recent historical maximum of Bitcoinhas promoted interest in industry companies, with a growing list, including Grayscale, Gemini and Bitgowith similar plans to go over.

“The growth of cryptocurrencies in the last decade was mainly driven by retail investors, but now we are seeing the beginning of an institutional wave. The question is not whether this wave will arrive, but how big it will be“, Commented in this line of ideas Tom Farley, CEO of Bullishin an interview with CNBC.

ARK Invest Bet on the cryptocurrency industry From their funds, investing in companies such as Coinbase, Robinhood and ETF of Bitcoin. The Wood company bought USD $ 373 million from Circle shares at the launch and has recently added indirect exhibition to Ethereum through actions of Bitminewhich drives a treasury Ethereum.

The investment strategy of ARK Its objective is not to allow any individual participation to occupy more than 10% of the portfolio portfolio. This is to maintain diversification, so your funds are constantly rebalancing.

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Article written with the help of AI, edited by Hannah Pérez / Diariobitcoin

Image generated with AI tool, under free use license

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