Bitcoin News Today: Bullish Enters Top 5 Public Companies in Bitcoin Holdings with 24000 BTC

Bullish, a U.S.-listed cryptocurrency exchange, has entered the top five of public companies with the largest publicly reported Bitcoin holdings, with reserves amounting to 24,000 BTC [3]. This positions Bullish as a significant player in the institutional-grade crypto space, aligning with traditional financial institutions that are increasingly recognizing the value of digital assets as part of their diversified portfolios [2].

Bullish, headquartered in the Cayman Islands and led by former NYSE President Tom Farley, is structured to serve institutional investors through a hybrid model that combines decentralized finance (DeFi) protocols with centralized security infrastructure [2]. The exchange disclosed its Bitcoin holdings ahead of its New York Stock Exchange (NYSE) listing, where it priced its IPO at $37 per share, raising $1.1 billion and valuing the company at $5.4 billion [2].

In addition to its Bitcoin holdings, Bullish maintains a diversified digital asset portfolio, including 12,600 ETH and $400 million in stablecoins [2]. As of March 31, 2025, the exchange had processed over $1.25 trillion in total trading volume, indicating robust institutional adoption and operational scale [2]. This marks the company’s second attempt to access public capital markets, with the previous effort having laid the groundwork for the successful IPO.

The IPO has attracted significant attention from institutional investors, including BlackRock and ARK Investment Management, both of whom plan to purchase up to $200 million in shares [2]. The stock debuted on August 14, 2025, closing at $68—83% above the IPO price [1]. This strong market performance underscores the growing momentum in crypto-related IPOs in 2025, with companies such as Circle, eToro, Galaxy Digital, and Gemini also entering the public markets [2].

Bullish’s public listing has also drawn support from high-profile investors, including billionaire Peter Thiel [2]. Despite ongoing regulatory and macroeconomic uncertainties, the move reflects continued confidence in the crypto sector and its potential for long-term institutional integration.

The broader regulatory environment has also shifted in favor of crypto. The Trump administration has promoted a pro-crypto agenda, including executive orders aimed at removing barriers to crypto inclusion in retirement accounts and ending “debanking” practices that hinder the operations of crypto firms [2]. These developments have contributed to a rise in Bitcoin’s price above $117,000, reinforcing the link between policy and market sentiment [2].

With its robust reserves, institutional-grade infrastructure, and favorable regulatory developments, Bullish is well-positioned to capture a significant share of the evolving crypto market. The company’s strategy of integrating digital assets into its balance sheet mirrors the approach of traditional financial institutions and highlights the convergence of crypto and traditional finance [4].

Source:

[1] https://www.barchart.com/story/news/34131910/crypto-exchange-ipo-mints-2-new-billionaires-as-shares-soar-in-nyse-debut

[2] https://cryptonews.com/news/bullish-prices-ipo-at-37-valuing-crypto-exchange-at-5-4-billion/

[3] https://www.bee.com/55419.html

[4] https://m.economictimes.com/markets/stocks/live-blog/bse-sensex-today-live-nifty-stock-market-updates-14-august-2025/liveblog/123293101.cms