I noticed an interesting movement in the market — Bullish made a explosive debut on the NYSE, and Cathy Wood from Ark Invest didn’t miss the moment. Literally on the listing day, they bought over 2.5 million shares of the company across three funds: ARKK, ARKW, and ARKF. The total amount exceeded $170 million.

Bullish shares soared nearly 100% — from an initial price of $37 to $68 by the end of the day. Cathy Wood clearly believes in this project. Interestingly, this isn’t the first time — she previously made large bets on Circle during their IPO ( buying approximately $373 million worth ), and now those shares are worth around $675 million. Cathy Wood definitely has a good eye for crypto projects.

But the overall cryptocurrency market doesn’t share such optimism. Bitcoin is currently trading around $73,000, and the CoinDesk index dropped 2% in the last day. Other recent IPOs in the crypto sphere, like Circle and eToro, are also losing value. It turns out Cathy Wood is going against the trend, but that’s her style — making bets when others are doubtful.