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Cathie Wood’s ARK Invest purchased $5.2 million worth of Bullish exchange shares on Friday across three ETFs, marking its third investment in the crypto platform since its $1.1 billion NYSE debut in October.
The purchases—totaling 104,013 shares split among ARK’s innovation, internet, and fintech funds—bring ARK’s total Bullish position to approximately $185 million, demonstrating continued conviction in the exchange as it expands U.S. operations following New York regulatory approval.
Bullish shares closed at $50.57 on Friday up 1.24% recovering from a week of broader market volatility. The exchange, backed by Block.one and led by CEO Tom Farley, has quickly become one of the top ten global platforms by Bitcoin and Ether volume.
For verification, see the NYSE listing details for Bullish (BLSH).
The Bullish US launch represents a pivotal moment for the exchange and for regulated crypto markets more broadly. In early October 2025, Bullish secured both a BitLicense and a money transmission license from New York’s Department of Financial Services (NYDFS) regulatory approvals required to operate in one of the most stringent financial jurisdictions in the world.
Following these approvals, the platform officially launched in 20 U.S. states, initiating spot trading with BitGo and Nonco as its first clients.
“The energy in the room said it all; the future is Bullish,” — the company wrote on X (formerly Twitter), celebrating the success of the Bullish US launch event in New York.
Since its global debut in 2021, Bullish has processed more than $1.5 trillion in trades, supported by a robust liquidity model and institutional-grade infrastructure.
Its regulated U.S. expansion positions it as a competitor to major exchanges like Coinbase and Kraken, offering an alternative tailored for institutional clients seeking compliance and deep liquidity.
ARK Invest’s latest purchase reinforces a growing theme among institutional investors confidence in regulated digital asset platforms. Analysts say ARK’s interest in the Bullish US launch highlights its long-term conviction that compliance-driven exchanges will dominate the next phase of crypto adoption.
ARK’s decision aligns with its existing exposure to blockchain-linked companies like Coinbase and Robinhood, but Bullish’s entry into the U.S. market provides a differentiated advantage: regulatory readiness.
According to ARK’s internal filings, the company views Bullish’s operational model which integrates automated market making with central order books as a blueprint for the evolution of institutional-grade crypto trading.
“Our conviction in Bullish stems from its technology stack and transparent regulatory approach,” said ARK spokesperson Maria Kline, in a statement following the purchase.
Bullish’s strong performance since its U.S. market debut and ARK’s deepening investment reflect a shift in institutional sentiment. The exchange’s ability to maintain compliance while scaling globally sets it apart in an environment still shaped by regulatory uncertainty.
Since the Bullish US launch, trading volumes and institutional engagement have steadily grown, buoyed by its transparent model and support from major custodians like BitGo. This reinforces the view that compliant exchanges are key to bridging traditional and decentralized finance.
The Bullish US launch is not just another exchange rollout as it symbolizes the maturation of digital asset infrastructure under U.S. regulatory oversight.
As ARK Invest continues to accumulate shares, the partnership between innovative finance and compliant crypto ecosystems appears to be deepening.
With $1.5 trillion in global trading history and growing institutional adoption, Bullish’s expansion underlines a key narrative: regulation and innovation can coexist and thrive within the next era of global finance.
