Bullish (BLSH) Gets Boost From Investment Firm's Acquisition of $21-Million Stake

We recently published 10 Big Names With Surprising Gains. Bullish (NYSE:BLSH) is one of Wednesday’s best performers.

Newly listed cryptocurrency exchange Bullish snapped a three-day losing streak on Wednesday, adding 5.68 percent to close at $62.89 apiece as investors mirrored an investment firm’s acquisition of a significant stake in the company.

In a disclosure, Cathie Wood’s Ark Invest said it acquired $21.2 million worth of additional shares in Bullish (NYSE:BLSH) on Tuesday, bringing its total ownership to $73.85 million. The transaction covered 356,346 new shares at a price of $59.51.

Bullish (NYSE:BLSH) joins the roster of publicly listed cryptocurrency exchange platforms, taking advantage of President Donald Trump’s favorable attitude towards the cryptocurrency industry.

Unlike most crypto exchanges, Bullish (NYSE:BLSH) primarily caters to institutional clients, offering spot trading, margin trading, and crypto derivatives, targeting the stable and recurring revenue stream that institutional investors provide.

The company was already up by 70 percent from its IPO price of $37, and touched as high as 219 percent at $118.

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