Bullish Shares Surge 162.08 on Strong NYSE Debut

Bullish (BLSH) made a stunning debut on the New York Stock Exchange on July 30, 2025, with its shares soaring 162.08% to close at $96.97, far exceeding its initial offering price of $37 [1]. The company successfully raised $1.11 billion through an upsized IPO, having initially priced shares in the $28 to $31 range before adjusting upward to $32–$33 and ultimately settling at $37 per share [2]. This outcome reflects a 20 times oversubscription, underscoring robust investor demand and confidence in the company’s prospects [2].

The IPO was led by underwriters JPMorgan, Jefferies, and Citigroup, and included notable backing from institutional investors such as BlackRock and ARK Invest, both of which expressed interest in acquiring up to $200 million in shares [2]. This level of institutional support signals growing recognition of cryptocurrency exchanges as credible investment vehicles in traditional financial markets.

The listing has positioned Bullish with an implied valuation of approximately $5.41 billion [1], reinforcing its status as a major player in the crypto space. The company offers a range of services including spot trading, futures, and derivatives, and also operates the cryptocurrency news platform CoinDesk [2]. These offerings, combined with the regulatory clarity provided by the Trump administration—including the enactment of the GENIUS Act to regulate stablecoins—have contributed to the favorable market sentiment surrounding the IPO [2].

The success of Bullish’s IPO has set a benchmark for future crypto-related listings, with industry peers such as Kraken and Gemini already preparing for their own public offerings [2]. The momentum follows a similar trajectory seen with Circle earlier in the year, whose stock also surged after its public debut. Analysts are now viewing the performance of BLSH not only as a reflection of Bullish’s business model but also as an indicator of the sector’s broader acceptance [2].

As the crypto industry continues to evolve under clearer regulatory frameworks, the Bullish IPO serves as a milestone, demonstrating that crypto exchanges are increasingly being integrated into mainstream financial markets. With institutional backing, regulatory progress, and strong investor interest, the company’s successful listing highlights the growing viability of crypto assets in the traditional investment landscape [1][2].

Source:

[1] Blockonomi https://blockonomi.com/bullish-ipo-sees-blsh-stock-soar-162-after-nyse-debut-raising-1-11b/

[2] CoinGape https://coingape.com/bullish-ipo-blsh-stock-surges-following-debut-on-nyse/