#BullishIPO It looks like #BullishIPO is currently trending as investors buzz about the wildly successful debut of Bullish, a cryptocurrency exchange, on the New York Stock Exchange under the ticker BLSH.
What Happened with the Bullish IPO?
IPO Pricing & Details
Bullish priced its IPO at $37 per share, surpassing its expected range of $32–$33. This offering raised approximately $1.1 billion, with an initial valuation of around $5.4 billion.
First-Day Trading Frenzy
On its first day of trading (August 13, 2025), Bullish opened around $90, topped at $118, and finally closed near $68—marking roughly an 83–84% gain from its IPO price. Intraday volatility even triggered trading halts.
Its market capitalization at close hovered near $10 billion.
Day Two Rally Continues
The surge extended into the next day, with Bullish stock jumping another 11% to close at approximately $75.47, pushing its valuation close to $11 billion. Notably, ARK Invest (led by Cathie Wood) bought about 2.5 million shares worth ~$172 million.
Why Is This IPO Attracting So Much Hype?
FactorInsightInstitutional BackingStrong support from Peter Thiel, BlackRock, ARK Invest, Galaxy Digital, and others—giving credibility and momentum.Market SentimentA broader IPO rebound in 2025—boosted by tech and crypto names like Figma, Circle, Firefly—has led to an overall bullish IPO environment.Institutional FocusUnlike many crypto exchanges targeting retail, Bullish emphasizes institutional infrastructure, backed by its acquisition of CoinDesk.Regulatory TailwindsEnacted frameworks like the GENIUS Act and a supportive U.S. regulatory climate have encouraged crypto firms to go public.
Words of Caution from Historical Patterns
Analysts note that IPOs with extreme first-day surges often falter over the long run, and investors should be wary of hype-driven valuations.
A Reddit investor warns:
“Around 50% of IPOs underperform the market long-term... The hype fades, but the fundamentals matter.”
At a Glance: Bullish IPO Highlights
IPO Price: $37
Raised: ~$1.1 billion
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