#BullishIPO

Latest on Bullish’s IPO & Market Performance

IPO Highlights (August 13, 2025)

IPO Price: $37 per share, above the initial $32–$33 range.

Funds Raised: Approximately $1.11 billion from 30 million shares.

Valuation at Offering: Around $5.4 billion.

First-Day Trading: Shares opened near $90, spiked to $118 (up to ~218%), and closed around $68–$92, depending on report.

Peak Valuation: Reached approximately $13.16 billion in early trading.

Institutional Support & Strategy

Backed by Peter Thiel; other early investors include Black Rock, ARK Invest, Mike Novogratz, and Alan Howard.

Aimed at serving institutional clients with stablecoin reserves; leadership includes Tom Farley, former NYSE president.

Market Context & Investor Sentiment

The IPO reflects rising investor interest in crypto-related listings, fueled by favorable regulation and renewed public market enthusiasm.

Analysts warn of potential downside for IPOs that “pop” on the first day due to FOMO-driven overvaluation.