Bullish crypto stock surges 218% on NYSE debut raising $1.1 billion

Bullish, a leading cryptocurrency exchange, made a dramatic debut on the New York Stock Exchange on August 13, 2025, with its stock surging 218% from its initial offering price [6]. The company priced its shares at $37 each in the IPO but opened at $90 per share and reached an intraday high of $118 before closing at $68 [1]. This performance marked one of the most significant capital infusions in the cryptocurrency sector, with Bullish raising approximately $1.1 billion in the process [3].

The strong investor demand for Bullish’s stock reflects growing institutional interest in digital assets. The company, backed by venture capitalist Peter Thiel and led by Tom Farley, a former NYSE president, positions itself at the intersection of institutional finance and decentralized digital assets [3]. Farley emphasized that the IPO marks a milestone in the acceptance of digital assets by mainstream markets [6].

The market reaction to Bullish’s listing was positive and far-reaching. The company’s stock surged 84% above its IPO price [2], and its success coincided with record highs for the Dow and S&P 500, indicating broader market optimism. Bitcoin and Ethereum also saw gains, with Bitcoin trading near all-time highs of $122,000 and Ethereum close to its own peak [1]. These movements suggest that institutional adoption of crypto is gaining momentum.

Bullish’s IPO is part of a broader trend in the crypto sector, with other firms like Coinbase and Circle also achieving notable success in their public offerings [5]. Despite ongoing regulatory scrutiny, the enthusiasm for crypto-related investments remains strong. Bullish’s listing has contributed to a renewed focus on digital-asset platforms, with analysts forecasting strong market sentiment for the listing [7].

The company’s NYSE debut highlighted the dynamic nature of the crypto-finance intersection. On its first day of trading, Bullish’s shares demonstrated significant volatility, with a high of $118 and a close of $68 [1]. This volatility underscores the unpredictable yet promising landscape of crypto-finance. With a peak valuation reaching $5.4 billion on the first day, Bullish has positioned itself as a formidable player in the evolving crypto market [8]. However, its long-term success will depend on maintaining user growth, ensuring regulatory compliance, and sustaining investor confidence amid market fluctuations.

The founders of Bullish also saw their wealth grow substantially, with the stock rise making them billionaires [4]. This outcome reflects the potential for significant returns in the crypto sector when institutional demand aligns with technological innovation.

Bullish’s NYSE debut signals a pivotal moment in the maturation of the crypto industry. As more digital-asset platforms seek public market validation, the lines between traditional and digital finance continue to blur. The performance of Bullish’s stock on its first day of trading reinforces the growing legitimacy of crypto as a mainstream financial asset class [6].

Source:

[1] Bullish crypto IPO explodes – https://www.linkedin.com/news/story/bullish-crypto-ipo-explodes-6492364/

[2] Bullish's Stock Soars in Latest Test for IPO Market – https://www.wsj.com/finance/stocks/bullish-ipo-blsh-stock-5815d8c1

[3] Crypto Firm Bullish Soars 84% in Debut After $1.1 Billion IPO – https://www.bloomberg.com/news/articles/2025-08-13/crypto-firm-bullish-surges-143-in-debut-after-1-1-billion-ipo

[4] Bullish Crypto IPO Turns Founders Into Billionaires – https://www.bloomberg.com/news/articles/2025-08-13/bullish-crypto-ipo-turns-founders-into-billionaires

[5] Bullish stock soars on IPO day – https://www.fastcompany.com/91385386/bullish-ipo-stock-price-today-crypto-exchange-blsh-makes-debut

[6] Bullish stock surges 218% in NYSE debut as crypto enters Wall Street limelight – https://cointelegraph.com/news/bullish-nyse-ipo-crypto-demand

[7] Bullish prices IPO at $37 per share ahead of NYSE debut – https://www.cnbc.com/2025/08/13/crypto-exchange-bullish-prices-ipo-at-37-per-share-ahead-of-nyse-debut.html

[8] Bullish Stock Soars In IPO Debut: Details – https://www.benzinga.com/markets/ipos/25/08/47103044/bullish-stock-soars-in-ipo-debut-details