#BullishIPO

The IPO of Bullish, the cryptocurrency exchange backed by Peter Thiel, marks an important milestone with a valuation of $5.4 billion, raising $1.11 billion from 30 million shares priced at $37 per share, exceeding the expected $32-33. This event, taking place on the NYSE under the ticker "BLSH," reflects strong confidence from investors, particularly from large institutions like BlackRock and ARK, which committed to purchasing $200 million in shares. The IPO is led by JPMorgan, Jefferies, and Citigroup, highlighting the acceptance of traditional finance. The acquisition of CoinDesk in 2023 helps Bullish expand its influence in crypto media. A clearer regulatory landscape in the U.S. and the upward price trend of Bitcoin and Ethereum have boosted optimistic sentiment. Compared to the IPO of Circle ($41 billion), Bullish has a lower valuation but still stands out due to its integration strategy of blockchain and finance. The projected earnings for Q2 2025 ($106-109 million) further reinforce confidence. This IPO not only solidifies Bullish's position but also signals the maturation of the cryptocurrency market.