Bullish Crypto Exchange Surges 90% on NYSE Debut, Valued at $13.2 Billion

Generated by AI AgentCoin World
Friday, Aug 15, 2025 12:12 am ET1min read
Aime RobotAime Summary

- Bullish’s NYSE IPO surged 90%, closing at $70 with a $13.2B valuation, far exceeding its $37/share initial pricing.

- The $1.1B fundraising, driven by strong institutional demand and favorable regulations, highlights crypto’s growing institutional adoption.

- Regulatory progress, including a pending New York BitLicense and Genius Act support, boosts investor confidence in crypto compliance.

- Backed by NYSE ex-president Tom Farley and Peter Thiel, Bullish’s success may encourage more crypto firms to pursue traditional market listings.

Bullish, a cryptocurrency exchange primarily serving institutional clients, made a blockbuster debut on the New York Stock Exchange, surging nearly 90% by the end of its first trading day and achieving a market valuation of nearly $13.2 billion [2]. The company’s shares opened at $90, climbed to a high of $118, and closed at $70, significantly outperforming the initial pricing of $37 per share [1]. Bullish raised $1.1 billion through its initial public offering, which valued the firm at $5.41 billion prior to market gains [3]. This performance marked a major milestone for the crypto industry, with the IPO priced well above the previously expected range of $32–$33 [4].

The IPO’s success was driven by strong institutional demand and a favorable regulatory backdrop, as crypto assets continue to gain traction among traditional

financial institutions
and corporate investors [5]. Bullish’s strategy of focusing on institutional clients, as opposed to retail traders, has positioned it to generate more stable revenue compared to other exchanges reliant on fluctuating retail trading volumes [5]. This differentiation, combined with regulatory developments that now allow crypto inclusion in 401(k) plans, has enhanced investor confidence in the sector [5].

Bullish is also nearing the completion of a two-year effort to obtain a New York BitLicense, which would enable the company to operate in the state under full regulatory compliance [5]. In addition, the firm plans to convert a significant portion of its IPO proceeds into stablecoins, a growing asset class supported by the Genius Act, which established a regulatory framework for dollar-pegged cryptocurrencies [5].

The company’s leadership and backing further reinforce its credibility. CEO Tom Farley previously served as president of the NYSE, bringing deep experience in traditional financial markets [5]. Bullish is also supported by Peter Thiel, a prominent venture capitalist known for his early investments in tech and financial innovation [5].

The strong market response to Bullish’s IPO signals broader momentum in the crypto sector, with several other platforms like Gemini and Grayscale exploring public offerings [5]. Analysts suggest that the success of Bullish may encourage more crypto firms to pursue traditional capital market listings as a means of raising capital and increasing visibility [5].

Source:

[1] https://www.ainvest.com/news/bullish-shares-surge-150-nyse-debut-driven-institutional-focus-crypto-optimism-2508/

[2] https://www.financemagnates.com/cryptocurrency/crypto-exchange-bullish-valued-at-132-billion-after-nyse-debut-outperforms-etoro/

[3] https://www.msn.com/en-us/money/companies/crypto-exchange-bullish-valued-at-nearly-132-billion-in-blowout-nyse-debut/ar-AA1KsUNU

[4] https://finance.yahoo.com/news/bullish-stock-ends-first-day-at-70-with-90-gain-giving-crypto-exchange-market-cap-above-10-billion-133442763.html

[5] https://yellow.com/news/crypto-exchange-bullish-soars-150-in-dollar132-billion-nyse-debut