Bullish IPO Set to Take Place: Will BLSH Stock Surge After Listing?

Bullish IPO, a company associated with Peter Thiel, will list on NYSE on Aug. 13. The roadshow has been successful, raising $990 million and valuing the company at nearly $5 billion. Investors are drawn to its market share growth and Bitcoin holdings. The company's annual revenue is expected to reach $250 million in 2024. With strong appetite for US listings and encouraging crypto regulations, BLSH stock is likely to surge after the IPO.

Bullish, a fintech platform backed by Peter Thiel and owner of CoinDesk, has significantly increased its IPO target to $990 million, aiming for a $4.8 billion valuation via a New York Stock Exchange (NYSE) listing [1]. The company's IPO roadshow has been successful, raising substantial interest from investors. The 57% increase in fundraising ambition reflects strong investor demand for fintech and digital-asset platforms amid growing market confidence [1].

Bullish offers commission-free trading and a rewards credit card to diversify revenue beyond traditional commissions. The platform's no-fee trading app and cashback credit card are designed to drive user engagement and generate additional revenue streams [1]. The company's decision to go public directly on the NYSE rather than through a SPAC underscores its strategic confidence and favorable market conditions [1].

The IPO is being led by JPMorgan, Jefferies, and Citigroup, with other lead managers including Cantor Fitzgerald, Deutsche Bank, and Société Générale. The company will trade under the ticker symbol BLSH [3]. Major investment firms such as BlackRock and Cathie Wood's ARK Investment Management have expressed interest in acquiring up to $200 million worth of BLSH shares [2].

Bullish's expansion into the crypto media sector by acquiring CoinDesk for $72.6 million in November 2023 has diversified its revenue streams and positioned it as a key player in the digital asset industry [3]. The company's asset base stands at over $3 billion, comprising 24,000 bitcoin, 12,600 ether, and $418 million in cash and stablecoins [3].

The Bullish IPO coincides with a broader trend of increased crypto and fintech listings. Earlier this year, stablecoin issuer Circle Internet Financial raised $1.2 billion through its public offering, signaling a shift in how digital-asset companies access capital [1]. A successful IPO could set a precedent, encouraging more crypto firms to pursue traditional public offerings over SPACs [1].

References:
[1] https://www.ainvest.com/news/bullish-ups-ipo-990m-eyes-4-8b-valuation-fintech-growth-2508/
[2] https://www.mitrade.com/insights/news/live-news/article-3-1031952-20250812
[3] https://www.tradingview.com/news/invezz:411fc000f094b:0-bullish-upsizes-ipo-to-990-million-as-crypto-listings-gain-momentum/