Українська
Русский
English
Crypto Exchange Bullish Raises $1.11 Billion in IPO
Crypto exchange Bullish has raised $1.11 billion in its initial public offering, pricing its shares at $37 each — above the previously announced range, Bloomberg reports.
The company sold 30 million shares, valuing it at $5.41 billion, according to the agency. Initially, Bullish planned to price the shares between $32 and $33, but strong demand allowed it to exceed the upper limit. Sources told the agency that the IPO was oversubscribed by more than 20 times.
Institutional investors, including BlackRock and Cathie Wood’s ARK Investment Management, committed to purchasing up to $200 million worth of shares. JPMorgan, Jefferies, and Citigroup acted as underwriters for the IPO. The stock will trade on the New York Stock Exchange under the ticker BLSH.
Bullish joins a growing list of crypto companies that have gone public this year, fueled by heightened interest in cryptocurrencies from the administration of U.S. President Donald Trump. In July, he signed a law establishing a regulatory framework for U.S. dollar–pegged cryptocurrencies, or stablecoins. In 2023, Bullish acquired cryptocurrency news site CoinDesk.
Bullish filed for its IPO on Friday, August 18, 2025. This is the company’s second attempt to go public — in 2021, it planned to list via a merger with the special purpose acquisition company (SPAC) Far Peak Acquisition in a deal valued at around $9 billion, but the transaction was canceled in 2022. Among Bullish’s investors are billionaire Peter Thiel through Founders Fund and Thiel Capital, as well as Nomura and Mike Novogratz.
See also: "Matrixport Introduces 4 ETH Trading Products for High-Volatility Conditions"
