Bullish Raises IPO Price to $37 Amid Strong Demand

Bullish, the cryptocurrency trading platform backed by Peter Thiel, has raised its IPO price to $37 per share, driving its valuation to approximately $4.82 billion amid heightened demand.

This move highlights strong institutional interest in digital assets, suggesting bullish sentiment in the market for equities related to cryptocurrencies like Bitcoin and Ethereum.

Bullish Targets $4.82 Billion Valuation Amid Investor Excitement

Bullish Inc., supported by Peter Thiel and Block.one, has announced an increase in its IPO price to $37 per share, boosting its valuation targets to $4.82 billion. The company sees strong institutional backing primarily from BlackRock and ARK Invest. Oversubscription has been confirmed due to strong market appetite.

The IPO was initially priced between $32-$33 but increased due to significant demand. This adjustment reflects expectations of notable investment from institutional giants such as BlackRock and ARK Invest, showcasing market confidence in Bullish’s offering.

Larry Fink, CEO, BlackRock – “If SWIFT is the postal service, tokenization is email itself—assets move directly and instantly, sidestepping intermediaries… Every stock, every bond, every fund—every asset—can be tokenized. If they are, it will revolutionize investing.”

Bullish IPO Mirrors Coinbase’s 2021 Market Impact

Did you know? The Bullish IPO is set to mirror historical trends seen in Coinbase’s IPO in 2021, which catalyzed increased institutional interest in digital assets.

According to CoinMarketCap, Bitcoin (BTC) is currently priced at $122,806.00, maintaining a market cap of approximately $2.44 trillion. The asset displays a 24-hour trading volume of $86.22 billion, reflecting a turnover change of 19.26%. Over the past 60 days, Bitcoin saw a price increase of 17.23%. These statistics emphasize Bitcoin’s resilience in the market.

Coincu research analysts highlight Bullish’s IPO as a potential catalyst for further regulatory discussions surrounding digital asset classifications. Continued institutional investment is expected to promote crypto’s legitimacy, though regulatory scrutiny may increase. This scenario may accelerate the adoption of cryptocurrencies in mainstream financial markets.