#BullishIPO
Bullish Exploded on Debut
IPO Pricing & Raise: Bullish priced its shares at $37 each, well above its initial $32–$33 expected range. It sold 30 million shares, raising roughly $1.1 billion and valuing the company at about $5.4 billion.
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Market Response: Volatility Meets Enthusiasm
Strong Opening: Shares opened near $90, rose intraday to $118, and closed at $68.
Impressive First-Day Gains:
Some sources report an 84% surge, pushing the market cap to around $10 billion.
Others note peaks as high as 218% intraday gain, valuing the company at $13 billion during the frenzy.
Continued rally into the next day lifted its market cap to as much as $11.26 billion.
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Why It's a Big Deal
Sign of Crypto Market Resurgence: Bullish’s successful IPO marks a renewed investor appetite for crypto and blockchain enterprises, following the strong showings of Figma, Circle, and others earlier in 2025.
Institutional Confidence: High-profile investors like BlackRock and ARK Invest reportedly indicated interest of up to $200 million in shares.
Regulatory Tailwinds: Broader political and regulatory backing, including stablecoin legislation, strengthened investor confidence in the crypto sector.
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What “#BullishIPO” Reflects
1. Massive investor excitement—a social media symbol for hype and momentum.
2. High volatility—a reminder that first-day price surges don’t guarantee long-term value.
3. A tipping point for crypto infrastructure firms entering public markets; companies like Gemini and Grayscale are reportedly lining up to follow Bullish’s path.
4. The power of emotion in IPO markets—mob excitement can fuel huge short-term gains, but academic studies show that such enthusiasm often fades and can be outweighed by long-term underperformance.
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Takeaways
What happened? Bullish’s IPO was priced at $37, raised ~$1.1B, and opened trading on August 13, 2025, to explosive gains—up to 218% intraday.
