#BullishIPO

Bullish, backed by Peter Thiel, surged onto the NYSE with shares opening at $90, soaring well above its $37 IPO price and briefly peaking near $118, valuing the company at around $13.2 billion, a clear sign of exuberance in crypto equity markets.

Meanwhile, Gemini, the Winklevoss twins' crypto exchange, has filed confidentially for a U.S. IPO under ticker “GEMI,” despite reporting a $282.5 million net loss on $68.6 million revenue for H1 2025.

Grayscale, a major crypto asset manager handling over $33 billion, has also filed for a U.S. IPO, aiming to ride the wave of renewed regulatory clarity and institutional demand in the crypto space.

The flood of crypto firms entering public market spanning exchanges, asset managers, and stablecoin issuers, signals growing mainstream integration. It’s a bullish moment driven by structural tailwinds, including regulatory reforms, ETF inflows, and investor demand for transparent, regulated exposure to crypto.