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ARK Buys $12M in Bullish as Exchange’s Crypto Options Volume Surges - news.adtechsolutions ARK Buys $12M in Bullish as Exchange’s Crypto Options Volume Surges - news.adtechsolutions

ARK Buys $12M in Bullish as Exchange’s Crypto Options Volume Surges


Cathie Wood’s ARK Invest increased its position in the bullish crypto exchange on Monday, buying about 238,000 shares worth about $12 million in its flagship funds.

According to ARK’s daily trade disclosure, ARK Innovation ETF (ARKK) acquired 164,214 shares, ARK Next Generation Internet ETF (ARKW) added 49,056 shares, and ARK Fintech Innovation ETF (ARKF) acquired 25,076 shares.

The move follows the purchase of ARK last week. On Friday, the investment firm acquired more than $5 million Bullish stock value in many ETFs.

ARK continued its accumulation since the $1.1 billion exchange debuts on the New York Stock Exchangeby the time bought about $172 million value of shares in their funds.

Related: Bullish stocks rise as Q2 earnings beat analysts’ estimates

Bullish sees record volume after launch of crypto options platform

The buying spree came as Bullish reported more than $82 million in trading volume within five days of launching its crypto options platform. The product allows clients to use their entire portfolio as collateral in the spot, futures and options markets, increasing capital efficiency.

Bullish registers $82 million in volume after launching options trading. Source: Bullish

Institutional partners, including FalconX Global, Wintermute and BlockTech, participated in the launch. “We’ve built a product that aims to solve the pain points that exist in crypto options trading today,” Bullish he wrote on X on Monday.

The bullish stock closed at $50.26, down 0.71% on the day, with after-hours trade showing a slight drop to $50.02.

Bullish stocks ended Monday slightly in the red. Source: Google Finance

Related: ARK Invest-backed firm becomes largest ETH hoarder outside the US

Bullish launches in 20 US states

Last month, Bullish officially launched in 20 US states after obtaining its BitLicense and money transmission license from the New York State Department of Financial Services, a significant regulatory milestone for any crypto business.

Bullish started operations with two large institutional clients, BitGo and Nonco. Founded in 2021, Bullish has already handled more than $1.5 trillion in global trading volume and ranks among the top 10 Bitcoin exchanges (BTC) and ether (ETH) activities.

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