##BullishIPO Bullish IPO Highlights
IPO Pricing & Structure
Date: Bullish began trading on the NYSE on August 13, 2025.
IPO Price: Originally priced at $37 per share, above its expected range of $32–$33.
Shares Sold: 30 million shares sold, with underwriters having an option to sell an additional 4.5 million.
Funds Raised: Approximately $1.1 billion raised.
Valuation at IPO: Estimated at $5.4 billion at pricing.
Stock Performance on Debut
Opening Price: Opened at $90, up nearly 143% from IPO price.
Intraday Peak: Surged to as high as $118, marking more than 218% gain on paper.
Closing Price: Ended the day around $68, up about 83%.
Market Context & Institutional Support
The IPO reflects a broader revival in IPO activity, particularly among crypto and tech firms.
Major institutional investors like BlackRock and Ark Investment Management showed interest.
The surge aligns with a favorable regulatory environment for crypto, including new stablecoin frameworks.
Why the Bullish Sentiment
Factor Explanation
Strong Pricing Bullish priced above expectations, signaling strong investor demand.
Explosive Debut Opening >2× IPO price and intraday peaks near 4× created dramatic returns.
Market Momentum Part of a wave of high-profile crypto IPOs (e.g., Circle, Figma).
Institutional Backing Endorsements from major asset managers added credibility and support.
Regulatory Tailwinds Pro-crypto legislation and stablecoin clarity boosted investor confidence.
