ARK Invest Purchases Additional Shares in Bullish Exchange
ARK Invest expanded its holdings in the Bullish crypto exchange this week, acquiring approximately 238,000 shares across its flagship exchange-traded funds. The move follows the recent launch of Bullishs crypto options platform and signals ongoing institutional interest in the growing exchange.
Details of the Recent Acquisitions
According to ARK Invests daily trade disclosures from Monday, the ARK Innovation ETF (ARKK) purchased 164,214 shares, the ARK Next Generation Internet ETF (ARKW) acquired 49,056 shares, and the ARK Fintech Innovation ETF (ARKF) added 25,076 shares of Bullish. The total value of these combined purchases stands at about $12 million.
This buying activity comes on the heels of ARKs earlier Bullish share purchases last week, highlighting a continued accumulation strategy. ARKs ongoing investments reflect confidence in Bullishs recent developments and market presence.
Bullish Options Platform Attracts Institutional Attention
Bullish recently reported over $82 million in trading volume within the first five days of launching its new crypto options platform. The service allows users to employ their full portfolio as collateral across spot, futures, and options trading on the platform, which may improve capital efficiency for clients.
Several institutional trading firms, including FalconX Global, Wintermute, and BlockTech, were involved at the launch of the options platform. According to a post by Bullish on X (formerly Twitter), the company aims to address challenges associated with trading crypto options.
Regulatory Progress and Market Activity
The recent product release follows regulatory advancements for Bullish. Last month, the exchange was granted a BitLicense and money transmission license from the New York State Department of Financial Services, a milestone required for operating digital asset businesses in New York.
Bullish began its regulated operations with institutional clients BitGo and Nonco. As of now, the company ranks among the top ten global exchanges by trading volume for Bitcoin and Ether. Since its founding in 2021, Bullish has processed more than $1.5 trillion in trading volume worldwide.
- Bullish shares closed at $50.26 on Monday, down 0.71% for the session.
- After-hours trading recorded a slight decrease to $50.02.
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