ARK Invest Acquires $172M as Bullish Jumps 83.8% on NYSE Debut, 21Shares Launches SUI and XDC ETPs in Europe
ARK Invest made a splash as Bullish, a crypto exchange backed by Peter Thiel and owner of CoinDesk, debuted on the New York Stock Exchange (NYSE). According to media reports, the exchange priced its IPO at $37 per share above the expected $32–$33 range and closed its first trading day up 83.8 %, at $68, smashing expectations and signaling renewed institutional appetite for regulated digital asset platforms.
Shortly thereafter, ARK Invest, through its Innovation, Next Generation Internet, and Fintech Innovation ETFs, acquired a combined 2.53 million shares worth roughly $172 million, signaling strong conviction in crypto infrastructure.
The IPO raised $1.1 billion and launched with a market cap of $10 billion, while the stock even climbed another ~11 % in after‑hours trading.
ALSO READ: TRON Pulls $9.9B in USDT Out of Ethereum as Stablecoin Shift Gains Momentum
Bullish IPO and ARK Investment Metrics
| Metric | Value |
| IPO Price | $37 |
| Opening Price | $90 |
| Intraday High | $118 |
| First-Day Close | $68 (≈ +83.8 %) |
| After-Hours Move | +11 % |
| Shares Acquired by ARK | ~2.53 million |
| ARK Investment Value | ~$172 million |
| ETFs Involved | ARKK, ARKW, ARKF |
| Total Capital Raised | $1.1 billion |
| Market Cap on Debut | >$10 billion |
Transitioning to tech implications, this flare‑up in institutional activity underscores how markets are treating crypto exchanges as critical infrastructure, reinforcing both legitimacy and growth potential.
Institutional Adoption and Market Context
The ARK investment illustrates renewed institutional confidence in digital asset infrastructure. This comes amid a record‑setting rally in core assets: Bitcoin briefly surged above $124,000 before settling near $118,000, while Ethereum approached its all‑time highs near $4,790 before easing to around $4,500.
Investor interest appears driven by clearer regulatory signals, mounting global debt, and rising demand for decentralized, hard‑asset alternatives. The Bullish IPO, bolstered by institutional backing, may presage a new wave of crypto IPOs, including potential listings from giants like Kraken, Gemini, and BitGo.
21Shares Expands European Crypto Offerings
In Europe, Zurich-based 21Shares expanded its ETP suite with two product launches on the SIX Swiss Exchange: the 21Shares XDC Network ETP (ticker: XDCN) and the SUI Staking ETP (ASUI). Both are physically backed and provide regulated access to crypto markets.
The ASUI ETP offers staking exposure to SUI with institutional‑grade risk management. As of August 13, its net asset value stood at $113.32, assets under management at $200.59 million, year‑to‑date return of –16.39 %, and 30‑day average staking yield of 1.48 %.
ALSO READ: Grayscale Fuels SUI and Cardano Boom as Binance Launches Offensive on Crypto Crime
Meanwhile, the XDCN ETP tracks XDC price without staking yield. Its NAV was $27.26, AUM was about $30.67 million, and the YTD return was 36.30%. These listings broaden investor access across major European exchanges, supporting token liquidity and potentially driving demand.
🔥LATEST: Cathie Wood’s Ark Invest bought 2,532,693 of Bullish shares worth $172M as the stock made its debut on NYSE. pic.twitter.com/7EwWtA2uC0
— Cointelegraph (@Cointelegraph) August 14, 2025
Technical Underpinnings: A Note on DPoS
The main news about IPOs and ETPs also demonstrates blockchain innovation. The token ecosystems of SUI and XDC operate with Delegated Proof of Stake (DPoS) and other consensus models.
The DPoS consensus model enables token holders to select delegates, which optimizes network performance and energy consumption while improving scalability and governance.
The launches demonstrate how on-chain mechanics, including DPoS, enable staking ETPs through their ability to maintain network reliability and generate predictable yields.
The increasing institutional adoption of staking income through DPoS networks (ASUI) may lead to higher demand for DPoS-powered networks. DPoS integration supports the overall development of digital finance infrastructure.
The user staking experience becomes more accessible through Delegated Proof of Stake integration, which 21Shares provides to democratize yield-generation powered by DPoS. DPoS appears multiple times in staking ecosystems, which increases its recognition among both institutional and retail investors.
Strategic Implications
Public-market validation via Bullish’s IPO signals that crypto exchanges are increasingly perceived as essential infrastructure. ARK’s deep commitment reflects long-term institutional alignment with digital finance.
The European listings of 21Shares enable traditional investors to access DPoS-enabled assets, such as SUI, through their yield and exposure opportunities.
The combination of these developments indicates that crypto is moving away from its speculative nature toward becoming a structured and regulated investment opportunity. The adoption of DPoS-enabled markets by institutions will lead to increased adoption, liquidity, and better ecosystem resilience.
ALSO READ: XDC and TRON Smash Milestones as Bullish Rides ARK Invest, BlockRock to Prep a $4.8B IPO
Conclusion: Institutional Crypto Adoption Gains Steam
The current week shows increasing institutional adoption of crypto assets. The $172 million investment of ARK Invest in Bullish during its powerful NYSE debut demonstrates Wall Street’s growing confidence in digital exchange infrastructure.
The SIX Swiss Exchange now offers European investors regulated DPoS-backed access to staking and token performance through the XDC and SUI ETPs introduced by 21Shares.
The industry has reached maturity through the convergence of Delegated Proof of Stake networks with institutional channels, which drives deeper adoption and yield-generation and strategic financial integration.
Frequently Asked Questions (FAQs)
- Why did ARK Invest buy Bullish shares?
To signal institutional confidence and capitalize on a high-momentum crypto infrastructure IPO. - What are ASUI and XDCN ETPs?
ASUI provides staking exposure to SUI with risk management; XDCN tracks XDC price performance without staking yield. - How does DPoS support these products?
DPoS ensures efficient network operations and enables predictable staking rewards, crucial for ETPs like ASUI. - Where else are 21Shares’ products listed?
They have listings on Euronext Amsterdam and Paris, now supplemented by SIX Swiss Exchange. - What does this mean for crypto adoption?
It marks increasing institutional endorsement and regulatory-friendly pathways, signaling mainstream integration.
Glossary of Key Terms
Delegated Proof of Stake (DPoS): A consensus method where token holders vote for delegates to validate transactions, enhancing scalability and reducing energy use.
ETP (Exchange-Traded Product): A financial instrument traded on exchanges that tracks assets like stocks or cryptocurrencies.
Staking ETP: An ETP that delivers yield from staking assets, such as ASUI, leveraging mechanisms like DPoS.
NET Asset Value (NAV): The per-share value of an ETP’s underlying holdings.
Assets Under Management (AUM): The total market value of assets that an investment fund or ETP manages.
IPO (Initial Public Offering): The first sale of stock by a private company to the public.
