Bullish, the digital asset trading platform and parent company of CoinDesk, has officially joined the New York Stock Exchange under the ticker BLSH.
The exchange priced its upsized IPO at $37 per share, above initial estimates, raising $1.11 billion and valuing the company at roughly $5.4 billion.
Investor demand was intense, with reports indicating the deal was more than 20 times oversubscribed. The strong reception comes despite recent crypto market swings, signaling continued appetite for blockchain-related equities.
Backed by Major Names
Founded by former NYSE president Tom Farley and supported by billionaire investor Peter Thiel, Bullish offers spot, futures, and derivatives trading.
Its ownership of CoinDesk adds a media and information division to its core exchange services. BlackRock and ARK Invest are expected to purchase up to $200 million of the newly issued shares — a significant vote of confidence from institutional investors.
IPO Momentum and Political Climate
The listing arrives amid a rebound in U.S. IPO activity, with Circle and Figma also delivering triple-digit gains post-debut this year.
Analysts note that Bullish’s public launch benefits from a regulatory climate seen as favorable under President Donald Trump, particularly after his recent signing of legislation creating a legal framework for dollar-backed stablecoins.
With JPMorgan, Jefferies, and Citigroup leading the offering, Bullish’s performance will be closely watched as a potential benchmark for other blockchain companies planning listings in 2025.
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Source: https://coindoo.com/crypto-exchange-operator-makes-nyse-debut/