13.08.2025 20:13

Bullish, a Cayman Islands-based cryptocurrency exchange, successfully completed its initial public offering (IPO) on the New York Stock Exchange (NYSE), raising a substantial $1.1 billion. The offering involved the sale of 30 million shares at $37 apiece, significantly exceeding the already-upwardly revised price range of $32 to $33, reflecting robust investor demand.

This successful IPO translates to an implied market valuation of approximately $5.4 billion for Bullish. The offering was incredibly oversubscribed, attracting roughly 20 times the available shares, according to sources familiar with the order book. JPMorgan Chase & Co., Jefferies Financial Group Inc., and Citigroup Inc. acted as lead underwriters for the deal, which also includes a 30-day option allowing for the sale of an additional 4.5 million shares. Prominent investors such as BlackRock and Cathie Wood's ARK Investment Management showed considerable interest, expressing a commitment to purchasing up to $200 million worth of shares.

Trading under the ticker symbol BLSH, Bullish's NYSE debut marks a significant milestone. The company, helmed by former NYSE president Tom Farley and backed by the prominent investor Peter Thiel, provides a digital asset platform catering to institutional clients. Furthermore, Bullish owns CoinDesk, a well-known cryptocurrency news service. Since its inception in 2021, the exchange has facilitated over $1.25 trillion in cumulative trading volume, highlighting its considerable market presence.

This IPO represents a triumphant comeback for Bullish following the failure of a planned $9 billion SPAC merger in 2022. The successful listing underscores a renewed investor enthusiasm for crypto-related ventures, a stark contrast to the market sentiment of the previous year. This article was generated using AI and curated from internet sources. More detailed information, along with source links, is available through the originating platform.