#BullishIPO How to Sell Air for $118

It happened. A new star has emerged on Wall Street, and it's not just another vegan hot dog company; it's the crypto exchange Bullish, which decided to prove that blockchain can not only drop by 80% but also evoke something like real enthusiasm among investors.

An IPO that wasn't supposed to succeed, but did

The offering price? $37 per share. Total? Well, you know these IPOs, just like discounts in a supermarket: they advertise one price, but at the checkout, it turns out to be something completely different. They opened at $90, soared to $118, and then, of course, reality knocked on the door and everything “modestly” settled somewhere around $68.

But even so. That's an 83% increase in one day. Honestly, when was the last time your salary increased by at least 8% in a year? Exactly.

BlackRock and ARK Invest, the so-called “old money”

The funniest part? It wasn't some crazy crypto anarchists in hoodies who subscribed to this IPO. No. It was BlackRock and ARK Invest, who usually sell you boring ETFs, but then suddenly decided: “Why not buy a crypto exchange? The Fed is printing dollars faster than we can spend them anyway.”

ARK Invest actually jumped in with all their money: $172 million. And now their ETFs look like they started trading on Bybit.