#BullishIPO
Here’s the full lowdown on the Bullish IPO (ticker BLSH), which debuted with a strong market splash on August 13, 2025:
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Bullish IPO Highlights
IPO Details & Pricing
IPO price: $37/share, above the already revised range of $32–$33.
Shares sold: 30 million, raising ~ $1.1 billion (Reuters says $1.11B).
Valuation at IPO price: ~$5.4B–$5.6B.
One-Day Trade Performance
Opening price: $90 — a substantial premium over the $37 IPO price.
Intraday high: $118 — representing as much as a 218% surge from IPO.
Closing price: Approximately $68, up 84–90% from the offering price.
Market Cap Spike
At closing (~$68), market cap soared to ~$10 billion.
With continued gains in the following trading session, market cap approached $11 billion.
Lead Investors & Support
Backed by influential firms: Founders Fund, Thiel Capital, Galaxy Digital, BlackRock, and ARK Investment Management.
ARK invested approximately $172 million (including 1.7M shares via its Innovation ETF).
Institutional Focus & Financial Outlook
Led by Tom Farley, former NYSE president; aims to serve institutional clients.
Recent Q1 2025 loss, but projecting $106–109 million profit in Q2.
Holds ~$2 billion in crypto assets on its balance sheet.
Its institutional focus, trading volume growth, and media arm (CoinDesk) make it stand out amid volatility in retail-driven exchanges.
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Summary Table
IPO Aspect Details
IPO Price $37 (above $32–33 range)
Shares Sold 30M; raised ~$1.1B
Opening Price $90
Intraday High $118
Closing Price (Day 1) ~$68 (~84–90% gain)
Market Cap (Day 1) ~$10B
Market Cap Day 2+ Approaching $11B
Projected Q2 Profit $106–109M
Major Backers Founders Fund, Thiel Capital, Galaxy, BlackRock, ARK
