Bullish Shares Double in NYSE Debut

Bullish, the digital asset exchange backed by billionaire Peter Thiel, saw its shares more than double on debut at the New York Stock Exchange, giving the company a valuation of $13.16 billion. The strong market response signals rising investor confidence in cryptocurrency firms seeking listings in the US.

The company’s upsized IPO priced 30 million shares at $37 each, trading under the ticker BLSH. JP Morgan and Jefferies acted as lead book-running managers, with Citigroup and a host of other major banks supporting the offering.

Bullish president Chris Tyrer highlighted that the listing could pave the way for other crypto firms to go public, offering investors greater choice in accessing digital assets. The company is also on the verge of securing a New York BitLicense, which requires compliance with KYC, AML, and capital standards, granting approval to operate in the state’s highly regulated financial market.

Alongside its IPO plans, Bullish intends to convert a significant portion of the raised capital into stablecoins, aligning with broader regulatory shifts, including President Trump’s signing of the Genius Act, which introduces new rules for stablecoin issuers. The firm’s focus on institutional investors could see crypto allocations expand further, especially after the White House authorized alternative investments like crypto within 401(k) retirement plans.

The debut not only cements Bullish as a leading exchange but also reflects Wall Street’s growing acceptance of regulated crypto platforms.

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