#BullishIPO
What Happened with Bullish's IPO?
On August 13, 2025, Bullish, a cryptocurrency exchange co-founded by Tom Farley (former NYSE president) and backed by heavyweights like Peter Thiel, Mike Novogratz, and others, officially went public on the New York Stock Exchange under the ticker BLSH .
The IPO was priced at $37 per share, above the initially expected range of $32–$33, and raised around $1.1 billion, giving Bullish an initial valuation of approximately $5.4 billion .
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Market Debut Performance
As trading began, shares surged dramatically:
Opened at around $90—about a 143% jump from IPO price .
Reached an intraday high of $118 before cooling off .
Closed the day at approximately $68, marking an 83% gain .
This translated to a market capitalization hovering around $10 billion–$13 billion, significantly higher than the IPO valuation .
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What's Driving the Enthusiasm?
Bullish targets institutional traders, blending DeFi protocols with centralized safeguards, while also owning CoinDesk, a major crypto news and analytics platform .
Its growth aligns with a broader wave of renewed investor appetite for crypto and tech IPOs, echoed by recent successes from Circle, Figma, Galaxy Digital, and eToro .
Favorable economic and regulatory conditions, including stablecoin legislation and a bullish Bitcoin market, have helped stoke investor interest .
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Takeaway
Bullish’s IPO didn’t just launch—it exploded off the starting line, with explosive first-day returns and a boosted valuation that reflects investor confidence in crypto infrastructure firms. For further breakdowns—from technical implications to investor strategies—just let me know!