Venture capital firm Thiel is on the verge of an initial public offering, causing BlackRock and Cathie Wood to take strategic steps in response.
Bullish Crypto Exchange Makes a Spectacular Stock Market Debut
Bullish, the bullish crypto exchange backed by Peter Thiel, has made a successful public debut on the New York Stock Exchange (NYSE) on August 13, 2025. The company, led by former NYSE President Tom Farley, listed under the ticker symbol BLSH and priced its shares at $37 each, well above the anticipated range of $32 to $33.
The stock soared as much as 218% on its first day, reaching a market capitalization of about $13 billion during the session. This impressive performance indicates strong investor enthusiasm and demand for Bullish, surpassing its initial valuation of $5.4 billion.
One of the key features of Bullish's IPO is the fact that approximately $1.15 billion of the proceeds were raised in stablecoins. This move underscores Bullish's ongoing commitment to cryptocurrency integration and liquidity within the crypto ecosystem.
Institutional support for Bullish is substantial. Prominent backers include Peter Thiel, as well as significant investments and interest from large institutional players such as BlackRock and ARK Investment Management. This institutional interest aligns with growing confidence in crypto infrastructure firms following recent regulatory and market developments.
The success of Bullish's IPO is a significant milestone for the company and marks its entry into the competitive crypto exchange sector. Future prospects appear promising given the successful IPO, the large scale of capital raised, continued investor excitement, and institutional support.
Bullish is not alone in its journey to the stock market. Two more crypto-related companies, BitGo and Gemini, have also filed for IPOs in the US. These developments suggest a surge in stock market activity within the crypto sector, with multiple crypto-related companies going public.
Other notable crypto-related IPOs this year include Circle, Galaxy Digital, and eToro. The success of these IPOs could bode well for Bullish's IPO, further enhancing its brand and market penetration.
In summary, Bullish is off to a spectacular start on the stock market, raising approximately $1.15 billion in stablecoins and boasting significant institutional backing. These factors, along with the success of recent crypto-related IPOs, suggest a promising outlook for growth and influence in the crypto exchange sector moving forward.
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Additional Information
- BitGo, a crypto custodian, has confidentially filed for an IPO in the US. Conditions for the IPO have significantly improved, indicating high demand. Cathie Wood's innovation hub, ARK Investment Management, has shown interest in subscribing to shares worth up to $200 million.
- DER AKTIONÄR is betting on Coinbase among crypto exchanges.
- Gemini, the trading platform led by the Winklevoss twins, has also confidentially filed for an IPO in the US. The company is valued at $4.8 billion according to the new plans.
- Trading app eToro opened up for public trading.
[1] Source: CoinDesk [2] Source: The Block Crypto
- The upcoming IPO of BitGo, a crypto custodian, is indicative of high demand in the market, with ARK Investment Management showing interest in investing up to $200 million.
- Bullish's successful integration of technology and finance, as demonstrated by its IPO raising $1.15 billion in stablecoins, positions it well among crypto-related companies such as Gemini and eToro that have also filed for IPOs in the US.
