Bullish Eyes $568M–$629M U.S. IPO as Institutional Demand Boosts Crypto Market Confidence

Bullish, a Cayman Islands-based cryptocurrency trading platform, has filed for a U.S. initial public offering (IPO) aiming to raise between $568 million and $629 million by offering 20.3 million shares priced between $28 and $31 per share. The potential valuation of the company could reach up to $4.2 billion, reflecting strong institutional demand and confidence in the crypto market’s ongoing growth [1]. Prominent institutional investors, including BlackRock and ARK Investment Management, have expressed interest in purchasing up to $200 million in shares, signaling further validation from major players in the financial sector [1].

In November 2023, Bullish acquired CoinDesk, the world’s second-largest crypto media outlet, for $72.6 million. The acquisition brings access to nearly 4.9 million unique monthly viewers, enhancing Bullish’s market reach and media influence. This move aligns with the company’s strategy to integrate digital asset trading with media content, strengthening its competitive position in a rapidly evolving industry [1].

The rise in crypto IPOs reflects broader market trends, including increasing institutional adoption and a more favorable regulatory environment. Companies such as Kraken and OKX are also pursuing public listings, with Kraken aiming to raise $500 million and potentially achieve a $15 billion valuation. Recent U.S. legislation, including the GENIUS Act signed into law by President Donald Trump, has provided much-needed regulatory clarity for stablecoins and market structures, encouraging more crypto firms to consider public offerings [1].

Bullish plans to use a portion of the IPO proceeds to convert into U.S. dollar–denominated stablecoins, supporting its strategy to serve institutional clients across more than 50 jurisdictions, excluding the U.S. The capital raised will also help expand the platform and integrate its newly acquired media assets, further solidifying its position in the digital asset ecosystem [1].

The broader financialization of crypto as an asset class has led to greater institutional and corporate adoption, with clearer regulatory frameworks reducing uncertainty and attracting more investors. This trend is expected to continue as more firms seek public market access and institutional capital to support growth and innovation in the crypto sector [1].

Sources:

[1] Bullish Considers $568M–$629M US IPO Amid Growing Institutional Interest and Crypto Market Developments

https://en.coinotag.com/bullish-considers-568m-629m-us-ipo-amid-growing-institutional-interest-and-crypto-market-developments/