Ark Invest said it bought more than 2.5 million shares of crypto platform Bullish (BLSH) on the day of the company’s explosive debut on the New York Stock Exchange, securing a stake valued at more than $170 million by the end of the day.

Shares of the company, which owns CoinDesk, surged to as high as $102 from the $37 IPO pricing, before closing at $68, an 84% gain. The company sold 20.3 million shares for its initial public offering, which had also attracted interest from BlackRock ( BLK ) , according to a filing with the SEC.

Ark added 1,714,522 BLSH shares to its flagship ARK Innovation ETF ( ARKK ) , 545,416 shares to the ARK Next Generation Internet ETF ( ARKW ) and 272,755 shares to the ARK Fintech Innovation ETF ( ARKF ) .

Bullish's rally extended into Thursday, recently trading 15% higher. That performance comes as the broader crypto market slipped, erasing part of the prior day’s gains when bitcoin (BTC) hit a record high of $124,000. The CoinDesk 20 Index is down about 2.1% over the past 24 hours.

Other recently listed crypto-related stocks fell. Circle (CRCL), which went public in June, fell about 2% Thursday, while trading platform eToro (ETOR) dropped nearly 3%.

Wood has a track record of making sizable early moves in newly public crypto firms. Upon Circle’s IPO, Ark purchased about 4.5 million shares, valued at roughly $373 million at the time.

Those shares are now worth about $675 million. Her stake in eToro is smaller — around 140,000 shares — currently valued at $6.5 million.

Bullish’s strong debut and Ark’s rapid allocation across multiple ETFs highlight growing investor interest in publicly traded crypto infrastructure companies, even as market volatility remains high.