- Bullish launched its IPO on the U.S. stock market, with shares surging nearly 200% in early trading.
- The company raised $1.1 billion by offering 30 million shares, securing a valuation of $5.41 billion.
- Trading was halted twice due to high volatility as the stock price climbed from $37 to a high of $110 before closing at $68.
- Major investors including BlackRock and Ark Invest plan to purchase up to $200 million in shares.
- The IPO comes amid a strong year for cryptocurrencies and increased stock market interest in crypto-related companies.
Bullish, a cryptocurrency exchange operator, launched its initial public offering (IPO) on Wednesday on the U.S. stock market. The stock opened at $37 per share and experienced a sharp increase, trading as high as $110 before closing the day at $68. The company’s IPO raised $1.1 billion, placing its market value at $5.41 billion.
Bullish offered 30 million shares in the IPO. The trading session was marked by significant volatility, leading to halts in trading twice within the first few minutes. Despite the market shifts, the company closed the day with an 80% increase in share price compared to its opening value.
Crypto industry trends supported Bullish’s debut. According to a letter to investors by CEO Thomas Farley, former COO and president of NYSE Group, “we now intend to IPO because we believe that the digital assets industry is beginning its next leg of growth.” He added, “I believe that the digital assets industry is at the inflection point of institutional adoption, and Bullish is uniquely positioned at the center of this market.”
The IPO attracted the attention of large investors. Securities filings reveal that BlackRock and Ark Invest, led by Cathie Wood, have expressed interest in purchasing up to $200 million worth of shares in the offering. More details can be found in the U.S. Securities and Exchange Commission filing.
The positive environment for crypto companies continues, with stablecoin issuer CRCL’s success inspiring several new offerings this year. As of Wednesday, 133 IPOs valued at over $50 million have launched in 2025, up 58% from last year, according to Renaissance Capital.
Stronger gains in major cryptocurrencies also encouraged investor enthusiasm. Bitcoin has risen over 28% and Ethereum more than 40% since the start of the year, contributing to the strong performance of crypto-related stocks like Bullish.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Bitcoin Hits Record High Above $124,000 as Bullish Momentum Grows
- Ex-Coinbase counsel Khurram Dara eyes 2026 New York AG run
- Zoom, Xerox Patch Critical Windows Flaws Enabling Remote Attacks
- AMD Stock Rises 5% as Analysts Bullish Despite China AI Deal
- Crypto Treasury Firms Double, But Most Trade Below Asset Value
