Bullish raises $1.1B in its NYSE debut, securing a $5.4B valuation and strong institutional backing as crypto IPO momentum accelerates.
Bullish just dropped a huge announcement their New York Stock Exchange debut pulled in a massive $1.1 billion after pricing 30 million shares at $37, well above the original $32–$33 target range. That pricing move gives them a $5.4 billion valuation and puts them officially on the NYSE under ticker BLSH starting August 13, 2025.
The IPO wasn’t just good, it blew past expectations. Earlier this week, Bullish aimed for $990 million, but investor demand was so strong that they smashed through that goal during final pricing. Institutional giants like BlackRock and ARK Invest are already in for up to $200 million worth of shares, and big banks JPMorgan, Jefferies, Citigroup — led the underwriting.
Why Bullish’s NYSE Leap Matters
This isn’t just about raising cash it’s about staking a claim in the growing list of publicly traded crypto companies. Bullish had a failed SPAC attempt back in 2022, but this comeback move, starting with a confidential SEC filing in June and a public registration in July, shows they’ve been playing the long game.
The IPO also reflects a major vibe shift in U.S. crypto markets. Pro-crypto policies under the Trump administration, like the recently signed GENIUS Act, and a rebound in digital asset prices have created perfect conditions for companies like Bullish to step into the spotlight.
With this raise, Bullish now has the fuel to expand its exchange platform and possibly set a benchmark for future crypto IPOs in the U.S.
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