Bullish, a digital asset trading platform backed by investors including Peter Thiel, debuted on the New York Stock Exchange on Wednesday, securing $1.1 billion in an IPO. The company originally priced its IPO at $37 per share, but its stock opened on the NYSE at $90, resulting in significant growth. As of the end of Wednesday, Bullish’s market value was approximately $10.25 billion, according to reporting by CNBC, nearly twice its anticipated value before it started trading.
The company strives to build an institutional-grade platform combining decentralized and centralized finance structures. Bullish operates a regulated exchange solution that incorporates compliance, auditing and governance frameworks. The company has a global presence with offices spanning locales including Hong Kong, Singapore, New York, London and the Cayman Islands.
This latest move marks Bullish’s second attempt at going public, following a SPAC merger that fell through in December 2022. The company is currently trading on the NYSE under the ticker symbol BLSH, entering more favorable market conditions as the Trump administration continues backing the cryptocurrency industry.
