Ethereum News Today: Bullish Shares Surge 218% on Strong Institutional Demand in $1.1 Billion IPO

Bullish Ltd. made a striking market debut on the NYSE on August 13, 2025, as its shares surged more than 218% intraday, driven by strong institutional demand from major players such as BlackRock and Ark Invest [1]. The IPO, led by Peter Thiel's firm, saw its stock open at $90 and peak at $118 before settling at $68, reflecting heightened investor enthusiasm for digital financial infrastructure [1]. The offering was significantly upsized and priced at $37 per share, up from an initial range of $32–$33, in response to overwhelming demand from both institutional and retail investors [1].

This surge underscores a broader shift in market sentiment toward cryptocurrency-related ventures, particularly those that demonstrate resilience within a regulatory-evolving landscape [1]. The IPO raised approximately $1.1 billion, valuing the company at around $4.82 billion, a figure that highlights the growing appetite for digital assets among institutional investors [1]. Key institutional backers, including Cathie Wood’s Ark Invest, played a notable role in the offering, although specific allocation details have not been disclosed [1].

Bullish’s successful listing is part of a larger trend of increased institutional engagement in the crypto market. For example, traditional firms are increasingly adopting crypto into their treasury strategies, as seen with Capital B’s recent acquisition of 126 Bitcoin [5]. Moreover, Ethereum’s open interest has exceeded $10 billion, signaling strong institutional interest in staking and decentralized finance (DeFi) yield opportunities [2]. These developments suggest that crypto is being integrated more formally into mainstream investment portfolios.

Regulatory clarity has also contributed to this momentum. Recent statements from the U.S. Securities and Exchange Commission (SEC) have provided greater certainty around staking and DeFi activities, encouraging further institutional participation [4]. These regulatory developments have helped to stabilize the market, with Ethereum treasuries reaching $9.6 billion [4]. As Bullish continues to solidify its position in the public market, the IPO represents a pivotal moment for the crypto sector as it attracts a wider range of investors [3].

The success of the IPO indicates a maturing market where crypto assets are increasingly viewed as legitimate investment vehicles. With strong institutional support and favorable regulatory developments, the Bullish listing reflects both the company’s strategic positioning and the broader industry’s growth potential [1].

Source: [1] Bullish Raises IPO Price to $37 Amid Strong Demand. https://coincu.com/markets/bullish-ipo-price-increase/

[2] Ethereum's $10 Billion Game: Unpacking the Institutional. https://dexalot.com/en/blog/ethereum-10-billion-open-interest-institutional-demand

[3] U.S. Market Outlook: Bullish, the rising star in the cryptoc... https://www.moomoo.com/community/feed/us-market-outlook-cryptocurrency-industry-supernova-bullish-will-go-public-1150****0742278

[4] Crypto.com: ETH treasuries hit $9.6B, SEC clarifies staking ... https://www.ainvest.com/news/crypto-eth-treasuries-hit-9-6b-sec-clarifies-staking-tokens-ethena-usde-surges-75-2508/

[5] Capital B Boosts Its Bitcoin Reserves, Sparking Institutional ... https://dexalot.com/en/blog/capital-b-bitcoin-acquisition-institutional-investments