BullishIPO

The Bullish IPO marked one of 2025’s biggest crypto market debuts. On August 13, 2025, the Peter Thiel-backed exchange—also owner of CoinDesk—listed on the NYSE under ticker BLSH. Priced at $37 per share (above its $32–$33 range), it raised $1.1B and opened at $90, peaking at $118 before closing lower. Demand was intense—over 20× oversubscribed—with institutions like BlackRock and ARK Invest committing up to $200M. Bullish offers spot, margin, and derivatives trading, targeting institutional clients, and reported $2.6B in daily volume pre-IPO2. Proceeds will fund expansion and acquisitions. The blockbuster debut signals strong investor appetite for regulated, high-volume crypto exchanges amid favorable U.S. policy.