ARK's Optimistic Move: Crypto Platform Rises While Defense Investments Decline
- ARK Invest boosted Bullish holdings via three ETFs, totaling $5M in new purchases, following an $8.27M October investment. - Bullish secured NY state licenses and expanded U.S. operations, now ranking top 10 in Bitcoin/Ethereum trading volume. - Leverage Shares launched a 2X Bullish ETF, highlighting its role as a "next-gen crypto marketplace" bridging traditional finance. - ARK divested defense/tech stocks ($12M total) while adding biotech positions, signaling strategic reallocation toward crypto and in
Cathie Wood's
This activity aligns with Bullish’s recent expansion in the U.S., highlighted by a launch event in New York where the company obtained both a BitLicense and a money transmission license from state regulators, allowing spot trading in 20 states. Supported by Block.one and led by CEO Tom Farley, Bullish has handled more than $1.5 trillion in trading volume since its global debut in 2021 and is now among the top 10 exchanges for
Interest in Bullish has also been highlighted by Leverage Shares by Themes, which introduced a 2X leveraged ETF focused on the stock,
ARK’s approach also involves selective selling. On October 31, the firm divested 41,892 shares of Palantir Technologies for $8.15 million and 42,865 shares of Kratos Defense for $3.78 million through ARKK, indicating a move away from defense and technology stocks, according to an
The market’s response to Bullish’s U.S. debut has been cautiously positive. The exchange’s regulatory achievements and partnerships with BitGo and Nonco have enhanced its reputation, though it still faces challenges in scaling and competing with established crypto exchanges. Analysts suggest that ARK’s continued investments may reflect strong long-term faith in Bullish’s potential to thrive in the rapidly changing digital asset sector, Cointelegraph noted.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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