Bullish Stock Spikes After Hours, CEO Says Company's Bitcoin-Dominated Indexes Could Become 'MSCI Of Crypto World' - ARK Innovation ETF (BATS:ARKK)

Core Insights - Bullish Inc. aims to position its CoinDesk 5 index as the "MSCI of the crypto world," catering to investors seeking broader market exposure while primarily investing in Bitcoin [1][2]. Company Developments - CEO Tom Farley highlighted the potential of Bullish's indices to attract investors looking for diversified options similar to traditional indices like the Dow or S&P 500 [2]. - Bullish has signed agreements with a major global futures exchange and a major U.S. equities exchange to launch products linked to the CoinDesk 5 and CoinDesk 20 indices, with an ETF arrangement also in place [4]. - The CoinDesk 5 index has returned approximately 132% since its launch, while the CoinDesk 20 index has netted 321% [3]. Financial Performance - Bullish reported second-quarter earnings of $0.93 per share, a significant improvement from a loss of $1.03 per share in the previous year [5]. - Ark Invest, led by Cathie Wood, acquired 36,328 shares of Bullish, totaling nearly $1.97 million, indicating strong institutional interest [6]. Market Activity - Bullish shares rose 2.12% in after-hours trading following a 5.82% decline during regular trading, reflecting volatility since its public listing [7]. - The stock has retraced 20% since its initial blockbuster debut, indicating a downward trend over various time frames [7].