#BullishIPO

The IPO of Bullish, the cryptocurrency exchange backed by Peter Thiel, marks a significant milestone with a valuation of $5.4 billion, raising $1.11 billion from 30 million shares at a price of $37 per share, exceeding the expected $32-33. This event, taking place on the NYSE under the ticker 'BLSH,' reflects strong confidence from investors, particularly from major institutions like BlackRock and ARK, committing to purchase $200 million in shares. The IPO is led by JPMorgan, Jefferies, and Citigroup, emphasizing the acceptance of traditional finance. The acquisition of CoinDesk in 2023 helps Bullish expand its influence in crypto media. A clearer regulatory landscape in the U.S. and the rising trend of Bitcoin and Ethereum have boosted optimistic sentiment. Compared to Circle's IPO ($41 billion), Bullish has a lower valuation but still stands out due to its strategy of integrating blockchain and finance. The forecast for Q2 2025 profit ($106-109 million) further reinforces confidence. This IPO not only solidifies Bullish's position but also signals the maturation of the cryptocurrency market.