Ark Invest Buys $12.5M Bullish Shares as Blockchain.com Files IPO S-1
Ark Invest purchased $12.5 million of Bullish stock over the past four days, increasing institutional exposure despite a 17% share decline in two weeks. Meanwhile, Blockchain.com filed a confidential S-1 for a U.S. IPO, leveraging profitability across 95 million wallets to test investor demand in a cautious market.
1. Ark Invest Increases Bullish Stake
Over the past four days, Ark Invest acquired $12.5 million of Bullish shares across its ETFs, signaling confidence in the institutional crypto exchange despite a recent 17% drop in the stock price. The firm’s strategy to buy risk assets on pullbacks underscores its long-term conviction in crypto-related equities.
2. Blockchain.com Files Confidential S-1 for IPO
Blockchain.com submitted a confidential draft registration (S-1) to the SEC for a U.S. IPO later this year, highlighting three years of adjusted profitability and support for over 95 million wallets. The filing tests market appetite in a cautious investor environment following halted offerings from peers.