#BullishIPO
Bullish is a cryptocurrency exchange and the owner of CoinDesk, launched in 2021 and aimed at institutional investors.
It’s backed by notable names such as Peter Thiel’s Founders Fund, BlackRock, ARK Invest, Galaxy Digital, and others.
The company initially attempted a SPAC listing in 2021, which fell through, then filed for a standard IPO in mid-2025.
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IPO Details & Performance
Final IPO Pricing & Valuation:
Priced at $37 per share, above the expected range of $32–$33, giving it a valuation of ~$5.4 billion.
The IPO raised $1.1 billion, based on 30 million shares sold, plus a 4.5-million-share option for underwriters.