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Aug 13, 2025The deal will raise $1.1 billion through the sale of 30 million shares, an increase from the 20.3 million shares initially planned at $28 to $31 per share.
Bullish has priced its initial public offering (IPO) at $37 per share, topping earlier expectations of $32 to $33, giving the cryptocurrency exchange a market capitalization of $5.4 billion.
The deal will raise $1.1 billion through the sale of 30 million shares, an increase from the 20.3 million shares initially planned at $28 to $31 per share, reflecting strong investor demand, according to a report by CNBC.
Bullish to Debut on NYSE Under Ticker ‘BLSH’
Trading will begin on the New York Stock Exchange under the ticker “BLSH.”
BlackRock and ARK Investment Management, led by Cathie Wood, have expressed interest in acquiring up to $200 million worth of shares.
Headquartered in the Cayman Islands and led by former NYSE President Tom Farley, Bullish targets institutional investors, combining decentralized finance protocols with centralized security.
Gemini, the exchange founded by the Winklevoss twins, filed confidentially for a U.S. IPO in June, signaling strong market confidence in crypto exchanges going public.
Trump Administration Pushes Pro-Crypto Agenda
The Trump administration advanced its pro-crypto agenda this week with a series of policy and regulatory moves.
President Trump signed an executive order urging regulators to remove barriers that prevent 401(k) plans from including alternative assets such as cryptocurrencies.
If implemented, the reforms could allow millions of Americans to allocate retirement funds to Bitcoin and other digital assets through regulated channels.
The Blockchain Association praised the measures as a “historic shift” that would expand consumer choice, empower wealth-building, and reduce operational barriers for blockchain businesses.
Source >> Bullish Prices IPO at $37, Valuing Crypto Exchange at $5.4 Billion