Bullish IPO achieves remarkable success, stock price triples from the offering price

The stock of cryptocurrency exchange #bullish (BLSH) made an impressive debut on the New York Stock Exchange (NYSE), increasing more than three times from the initial offering price of $37, reaching a peak of $118. Although the price adjusted afterward, the stock still rose by 126% on the day, demonstrating significant market interest in digital asset companies.

Trend of crypto companies going public

The successful event #IPO of Bullish follows the success of stablecoin issuer Circle, whose stock also tripled after listing in June. Both events reflect a positive shift in investor sentiment and the regulatory environment towards cryptocurrency.

According to Tom Farley, CEO of Bullish, the company decided to IPO at this time because the digital asset industry "is beginning its next growth phase".

Favorable market context

Bullish's successful listing marks a stark contrast to 2022, when their IPO plan through a merger with a SPAC company failed due to the bear market and uncertain regulatory environment. Currently, the regulatory landscape has become more friendly towards cryptocurrency, with the SEC approving spot Bitcoin and Ethereum ETFs, along with a more crypto-friendly administration. #anhbacong