Bullish Shares Surge 5.68% on Market Debut as $320M Daily Volume Ranks 329th

Bullish (BLSH) rose 5.68% on August 20, 2025, with a trading volume of $320 million, ranking 329th in daily turnover. The stock, which debuted in the U.S. market on August 13, surged nearly 84% on its first day, closing at $68 and achieving a market capitalization of $10 billion. The IPO priced at $37 per share, significantly above the initial guidance range, and attracted institutional backing including BlackRock and ARK Invest, which committed to purchasing up to $200 million in shares. Trading volatility led to multiple halts, with the stock briefly hitting $118—a 200% gain from its IPO price.

The company, parent to crypto media outlet CoinDesk, has facilitated over $1.25 trillion in trading volume since 2021 and targets institutional clients. Its public debut reflects growing institutional confidence in crypto infrastructure. Analysts noted that Bullish’s rally aligns with broader market optimism driven by moderating inflation and expectations of Fed rate cuts, which have spurred corporate Bitcoin accumulation and stablecoin growth. However, regulatory uncertainties and competitive pressures in the crypto sector remain key risks for the stock.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to the present has generated a total profit of $2,385.14 as of the latest data. The returns have shown steady growth over the past year, albeit with intermittent fluctuations.