Brendan Blumer, chairman of Bullish, and Tom Farley, CEO von Bullish, posing during the Bullish Bullish, a cryptocurrency operator, at the New York Stock Exchange (NYSE) in New York City, USA, August 13, 2025.
Brendan McDermid | Reuters
Cryptocurrency Exchange Bullish has evaluated its initial public offer for $ 37 per share above the expected range of $ 33 to 33 and granted it an overall market value of 5.4 billion US dollars.
The company will collect 1.1 billion US dollars in the range of 30 million shares. To a measure of the increased appetite of investors, Bullish expanded the number of shares sold in the IPO of 20.3 million, which were originally proposed, to sell between $ 28 and 31, per share.
Bullish granted his draftsmen, led by JPMorgan, Jefferies and Citigroup, a 30-day option to sell another 4.5 million shares. Bullish shares will act on the New York Stock Exchange under ticker symbol “BLSH”.
The ARK Investment Management of Blackrock and Cathie Wood has given the interest in buying up to 200 million US dollars of the shares.
Bullish, who is managed by the former New York Stock Exchange President Tom Farley and has his headquarters on the Cayman Islands, is a cryptocurrency exchange that is geared towards institutional investors and brings decentralized financial protocol with the certainty of a central company.
Since its introduction in 2021, the total trade volume on the Bullisches Platform on March 31st 1.25 trillion dollars.
Bullish also has the Crypto News website Coindesk, which contains crypto indices, data and analyzes.
This is Bullish's second attempt to go public in the four years since it was introduced. Supporters, including the billionaire PayPal co-founder Peter Thiel, would like to use the favorable attitude of the Trump government to Crypto, which has liven up the capital markets this year.
In June, StableCoin Emittent Circle celebrated an extremely successful stock exchange debut and collected more than 1 billion US dollar. This was followed by the transmission to Nasdaq (from Toronto) by Mike Novogratz 'Galaxy Digital and stock and stock and crypto trading app etoro's IPO, which estimated it at 5.4 billion US dollars. Crypto Sorgery Startup Bitgo and Crypto Exchange Gemini have also submitted confidentially for US listings.
– Nick Wells from CNBC contributed the reporting.