Bullish IPO Surges 218.9% on First Day of Trading: Should You Buy BLSH Stock?

Bullish, a crypto exchange backed by Peter Thiel's Founders Fund, made a spectacular IPO debut, exceeding its expected price range and raising $1.1 billion. Its shares rocketed on day one, peaking at $118, resulting in an 83.8% gain from the IPO price. With its high-profile backing and positive investor sentiments, Bullish's market cap surged to around $10 billion, and its shares are currently trading at $74.

Title: Bullish's Spectacular IPO Debut: A New Milestone in the Crypto Industry

Bullish, a cryptocurrency exchange backed by Peter Thiel's Founders Fund, made a remarkable IPO debut on August 13, 2025, raising approximately $1.1 billion and significantly exceeding its expected price range. The stock opened at $90 on the New York Stock Exchange, a 143% increase from its IPO price of $37, and briefly peaked at $118 during the trading session. By the end of the day, Bullish's shares closed at $68, representing an overall gain of more than 83% [1].

The IPO was priced at $37 per share, significantly higher than the expected range of $32 to $33. This valuation placed Bullish at nearly $5.6 billion before trading began, and its market capitalization surged to around $10.25 billion by day's end [1]. The company sold 30 million shares in the IPO, representing 19.9% of its total stock [1].

Bullish's CEO, Tom Farley, stated that the company's IPO reflects the growing institutional interest in the cryptocurrency sector. He noted that the "institutional wave in crypto has begun" and that the reception to the IPO indicates strong investor confidence [1]. Since its launch in 2021, Bullish has seen total trading volume exceed $1.25 trillion as of March 31, 2025, and owns the crypto news website CoinDesk [1].

The successful IPO comes amidst a series of favorable regulatory environments and high-profile crypto listings. Bullish joins a growing list of companies, including Circle, Galaxy Digital, eToro, BitGo, and Gemini, that have successfully debuted or are in the process of listing on U.S. stock exchanges [2, 3]. This trend reflects a robust appetite for new crypto offerings and a more crypto-friendly regulatory environment [2].

Bullish's high-profile backing by Peter Thiel and its positioning as a key player in the institutional crypto market have contributed to its successful IPO. The company blends decentralized finance protocols with centralized security, making it an attractive option for institutional investors [1].

As of July 2, 2025, Bullish's shares are trading at $74, maintaining a strong market presence despite the volatility of the crypto market [4]. The company's IPO success underscores the increasing acceptance and potential of cryptocurrencies in the broader financial landscape.

References
[1] https://www.cnbc.com/2025/08/13/crypto-exchange-bullish-more-than-doubles-in-nyse-debut-after-pricing-ipo-above-expected-range.html
[2] https://finance.yahoo.com/news/peter-thiel-backed-crypto-exchange-173753716.html
[3] https://api.news.bitcoin.com/wp-json/bcn/v1/post?slug=peter-thiel-backed-bullish-exchange-successfully-debuts-on-the-new-york-stock-exchange
[4] https://www.forbes.com.au/news/investing/crypto-exchange-bullish-surges-160-in-ipo-becomes-latest-wall-street-debut-darling/