04.08.2025 23:35

Bullish, the institutionally-focused cryptocurrency exchange boasting the backing of billionaire Peter Thiel, has initiated its initial public offering (IPO) on the United States market. Aiming for a substantial $4.23 billion valuation, the company plans to offer 20,300,000 ordinary shares at a price ranging from $28 to $31 per share, potentially raising up to $629 million.

This move positions Bullish alongside other prominent cryptocurrency companies already publicly traded or pursuing IPOs in the U.S. The company's filing, submitted on Monday, underscores its intention to capitalize on the burgeoning interest in digital assets. Funds raised will primarily be used to bolster general corporate operations, maintain working capital, and explore potential future acquisitions. However, the offering's success hinges on prevailing market conditions, with no guarantee of completion or specific terms.

Bullish's shares are set to be listed on the New York Stock Exchange under the ticker symbol "BLSH." This listing follows swiftly after the July registration of Form F-1 with the U.S. Securities and Exchange Commission, demonstrating the company's proactive approach to entering the public market.

The IPO coincides with a wave of optimism within the digital asset industry, fueled by significant progress towards regulatory clarity in the United States. Landmark legislation, such as the GENIUS Act, and initiatives like the SEC's Project Crypto, are contributing to this positive momentum. Bullish's entry into the public sphere joins established players like Coinbase and Circle, the stablecoin issuer that experienced a spectacular 400%+ surge above its initial listing price on the NYSE in June, despite broader market volatility. This demonstrates the potential for substantial growth in the publicly traded crypto sector. The company's decision to go public reflects the evolving landscape of cryptocurrency and its increasing integration into traditional financial markets.