Bitcoin News Today: Bullish Boosts IPO to $990M as Crypto Market Grows to $4 Trillion

Bullish, a cryptocurrency exchange backed by Silicon Valley investor Peter Thiel, has raised the size of its U.S. initial public offering (IPO) to $990 million, a nearly 60% increase from its original target of $629 million. The company now intends to sell 30 million shares at a price range of $32 to $33 per share, which could value the firm at approximately $4.8 billion when it lists on the New York Stock Exchange under the ticker symbol BLSH [1]. This revision reflects growing investor interest in the crypto sector and Bullish’s confidence in its ability to capture a larger share of the market [2].

The IPO is being led by major Wall Street underwriters, including JPMorgan Chase, Jefferies Financial Group, and Citigroup. Notably, BlackRock and ARK Investment Management have indicated interest in purchasing up to $200 million in shares [3]. While these commitments are non-binding, they signal strong institutional demand for crypto-related equities at a time when the broader digital asset market has reached a valuation of $4 trillion [4].

This is Bullish’s second attempt to go public. The company previously pursued a $9 billion merger with a special-purpose acquisition company (SPAC) in 2022, but the deal collapsed amid weakened market conditions and heightened regulatory scrutiny [1]. The current IPO aims to leverage improved market sentiment and stronger corporate adoption of digital assets. Proceeds from the offering will be used to expand the company’s trading infrastructure and increase liquidity in U.S. dollar stablecoins [5].

The move comes as several other crypto-focused firms, including Grayscale and Gemini, have filed confidentially for public listings [6]. The broader environment appears favorable, with Bitcoin trading at $120,513.33 on August 11, 2025, showing a 1.37% daily increase and 16.06% rise over 90 days [7]. Bullish’s leadership, including CEO Tom Farley and Chairman Brendan Blumer, has emphasized the strategic importance of the offering in reinforcing the company’s position in the global exchange market [8].

Peter Thiel, an early backer of the platform, has voiced optimism about Bullish’s potential to shape the future of digital asset trading. His involvement adds a layer of credibility in a market where regulatory alignment and trust are key to long-term success [9]. The IPO, which is expected to price and begin trading the following day, represents one of the largest public debuts in the crypto sector and will be closely watched as a test of investor appetite for blockchain-related equities [10].

Source: [1] Bullish Boosts U.S. IPO Target To Nearly $5 Billion Valuation, (https://financefeeds.com/bullish-boosts-u-s-ipo-target-to-nearly-5-billion-valuation/)

[2] Bullish Expands IPO to $4.82 Billion Amid High Demand, (https://coincu.com/markets/bullish-expands-ipo-42-billion/)

[3] Peter Thiel-Backed Bullish Targets $4.82B Valuation Amid Crypto Market Optimism, (https://www.binance.com/en/square/profile/coinspeaker)

[4] Bullish, a digital asset exchange backed by investor Peter Thiel, has increased its planned initial public offering to nearly $990 million, (https://cryptofrontnews.com/peter-thiel-backed-bullish-boosts-ipo-target-to-990-million-amid-growing-market-appetite/)