Bullish files for IPO, aiming to go public soon
Backed by Peter Thiel and Block.one
Signals growing confidence in crypto market
Bullish, the crypto exchange founded by blockchain firm Block.one and backed by billionaire investor Peter Thiel, has officially filed for an Initial Public Offering (IPO) in the United States. This move positions Bullish as one of the few crypto firms taking the leap into the public markets, even as the broader industry faces regulatory uncertainty.
The IPO filing, made with the U.S. Securities and Exchange Commission (SEC), signals the exchange’s ambition to play a more significant role in the future of digital finance. While the exact valuation and timeline remain under wraps, the fact that Bullish is going public at all marks a strong vote of confidence in the long-term viability of crypto.
Peter Thiel’s Influence and Market Confidence
Peter Thiel, known for his early investments in Facebook and PayPal, is one of the highest-profile backers of Bullish. His support lends credibility to the platform, especially at a time when the crypto market is trying to recover from a turbulent few years. Thiel’s involvement, along with backing from Block.one, gives Bullish both financial muscle and strategic guidance.
Bullish previously attempted to go public via a SPAC merger in 2021, which was later canceled. This time, a direct IPO could offer better clarity and structure for institutional investors.
LATEST: Peter Thiel-backed crypto exchange Bullish files for IPO. pic.twitter.com/LQGZiAXCnJ
— Cointelegraph (@Cointelegraph) July 19, 2025
What This Means for the Crypto Sector
If Bullish succeeds in going public, it could open the doors for more crypto exchanges and blockchain firms to follow suit. Amid increasing interest from institutional investors, a publicly traded Bullish could act as a bridge between traditional finance and the digital asset world.
This IPO also arrives during a time of changing sentiment in the U.S. toward crypto, with regulatory conversations becoming more constructive. Bullish’s move could signal a new phase of legitimacy and maturity for the industry.
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