14.08.2025 00:18

Bullish, a cryptocurrency exchange, enjoyed a spectacular debut on the New York Stock Exchange (NYSE), its initial public offering (IPO) significantly exceeding expectations. The company raised a substantial $1.11 billion by selling 30 million shares at $37 apiece, a price point driven by exceptionally high investor demand.

This initial offering price, however, paled in comparison to the stock's performance on its first day of trading. BLSH stock experienced a breathtaking 162.08% surge, closing at $96.97 per share. This dramatic increase resulted in a market capitalization of $5.41 billion, firmly establishing Bullish as a major player in the cryptocurrency exchange market.

The IPO's success stemmed from overwhelming investor enthusiasm. Originally, Bullish had planned to price its shares between $28 and $31, but the offering was oversubscribed by a remarkable 20 times. This extraordinary demand forced an upward revision of the price, underscoring the confidence in Bullish's future prospects. The strong investor interest was further reinforced by the participation of prominent investment firms such as BlackRock and ARK Invest, both of which indicated interest in purchasing up to $200 million in shares.

Bullish's robust offering, encompassing spot trading, futures, and derivatives, specifically targets institutional investors. This focus, coupled with the backing of prominent figures like Peter Thiel and former NYSE president Tom Farley, contributed significantly to the IPO's triumphant reception. The significant capital raised, along with the impressive first-day trading performance, serves as a powerful endorsement of the cryptocurrency industry's growth potential, potentially influenced by favorable regulatory conditions under previous administrations. The IPO's success is widely seen as a positive sign for the industry as a whole, despite ongoing market volatility.