Cathie Wood's ARK Invest added to its position on crypto exchange Bullish on Monday, buying about 238,000 shares value about $12 million through its flagship funds.
According to ARK's every day trading reports, ARK Innovation ETF (ARKK) purchased 164,214 shares, ARK Next Generation Internet ETF (ARKW) added 49,056 shares, and ARK Fintech Innovation ETF (ARKF) purchased 25,076 shares.
The move follows ARK's purchases last week. On Friday, the investment firm purchased over $5 million value of Bullish shares across multiple ETFs.
ARK has continued its accumulation because the exchange's $1.1 billion debut on the New York Stock Exchange, when the firm purchased about $172 million value of shares in its funds.
Bullish sees record volume after crypto options platform launch
The buying spree got here as Bullish reported trading volume of over $82 million inside five days of launching its crypto options platform. The product allows clients to make use of their entire portfolio as collateral in spot, futures and options markets, increasing capital efficiency.
Bullish records $82 million in volume after starting options trading. Source: Bullish
Institutional partners including FalconX Global, Wintermute and BlockTech were involved within the launch. “We have developed a product aimed toward solving the issues that exist in crypto options trading today,” Bullish wrote on X on Monday.
Bullish shares closed at $50.26, down 0.71% on the day, with after-hours trading showing a slight decline to $50.02.
Bullish launches in 20 US states
Last month, Bullish officially launched in 20 US states after receiving its BitLicense and money transfer license from the New York State Department of Financial Services, a major regulatory milestone for any crypto company.
Bullish began operations with two large institutional clients, BitGo and Nonco. Founded in 2021, Bullish has already processed over $1.5 trillion in global trading volume and is among the many top 10 exchanges by Bitcoin (BTC) and Ether (ETH) activity.
