Oh, look who’s back! Bullish just raised $1.11B in its NYSE debut, and surprise, surprise – its stock soared 218%, turning Wall Street into a crypto wonderland. Must be institutional demand… or just sheer luck?
Ah, the day when Bullish made its grand entrance on the New York Stock Exchange – and let’s just say it didn’t disappoint. According to Bloomberg, the exchange raised a tidy sum of $1.11 billion in its Initial Public Offering (IPO). The shares? A steal at $37 each, up from the predicted range of $32 to $33. The company is now valued at a cool $5.4 billion. A real surprise, considering the crypto market has the stability of a toddler on a sugar rush!
Exchange Bullish Stock Skyrockets on IPO, Hits $118 Intraday
Bullish wasn’t just another crypto company; it had a billionaire backer, Peter Thiel, who could probably buy the moon if he felt like it. With its stock symbol BLSH, the company’s shares shot up like a rocket, hitting $118 at their highest point – a stunning 218% increase from the IPO price. A total of 38 million shares traded hands, proving that the institutional and retail investors were practically *fighting* for a piece of the crypto pie.
Initially, Bullish was going to sell just 20.3 million shares at a modest price range of $28 to $31. But of course, the crypto market never plays by the rules, and demand was so high that they upped the ante to 30 million shares. The offering? Oversubscribed by over 20 times, like your mom’s cooking when she announces a “little get-together.” Major players like JPMorgan, Jefferies, and Citigroup took the lead, and guess what? The firm even gave underwriters a 30-day option to dispose of another 4.5 million shares. Greed never sleeps.
Related Reading: Crypto Exchange Bullish Aims for $4.23B Valuation in IPO | Live Bitcoin News
In case you were wondering if Bullish was only about numbers, they also own CoinDesk – the crypto news website that keeps you up at night refreshing your feed. While Coinbase is out there catering to retail, Bullish is going straight for the big dogs: institutional investors. Why? Because stable revenue is sexy. The likes of BlackRock and ARK Invest, no strangers to massive investments, have already pledged to buy up to $200 million worth of shares. And why wouldn’t they? The crypto market’s volatility is just the kind of thrill-seeking adventure they live for.
Oh, and did I mention that Bitcoin is flirting with its all-time high of $120,000? That’s like the crypto equivalent of buying a Lamborghini with Monopoly money. Plus, Trump’s administration signed the Genius Act, which established stablecoin regulations. A round of applause, please! With those regulatory boosts, Bullish is feeling bullish (pun intended) about turning their IPO funds into stablecoins. Because who doesn’t love a good stablecoin?
Bullish IPO Marks Milestone for Crypto’s Institutional Push
Bullish’s debut isn’t just a fluke. It’s part of a grander revival of IPOs. Remember Circle, the stablecoin company, that raised over a billion bucks in June? Their shares skyrocketed by 400%. Gemini and BitGo have also gotten in on the action. So, don’t be surprised if more crypto firms decide to join the IPO party. After all, it’s 2025, and the stock market is basically a casino – with better lighting and fancier suits.
Now, let’s talk numbers. Bullish might be flying high now, but their finances are like a roller coaster. In Q1 of 2025, they posted a loss. But don’t fret, they’re expecting a rebound in Q2, with profits between $106 million and $109 million. Trading volume? It went from $72.7 billion in 2022 to a whopping $250 billion in 2024. Not bad for a company that’s practically swimming in crypto assets – most of which are in Bitcoin. But as any crypto enthusiast will tell you, volatility is the name of the game. Binance and Coinbase are still out there, ready to pounce.
In case you didn’t know, this is actually the second time Bullish went public. The first time, in 2021, they tried to merge with a SPAC but bailed out when the market took a nosedive. Fast forward to today, and they’re waltzing into the mainstream financial scene like it’s no big deal. A big win for the crypto industry, but caution is still advised. The market could be up one day and crashing down the next. Cheers to the rollercoaster!
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2025-08-14 21:57