.png "Bullish, a crypto exchange, is going public at a 5.4 billion valuation, raising 1.1 billion to expand global operations and strengthen its market position amid rising institutional interest.")
Bullish, a crypto exchange, is going public at a 5.4 billion valuation, raising 1.1 billion to expand global operations and strengthen its market position amid rising institutional interest.
Hey, I’m Aadi. I’ve spent time steeped in both marketing strategy and finance in the startup trenches. I’ve watched IPOs from the sidelines and whispered into investor ears about when bold moves actually matter. I’m sharing this because Bullish’s debut isn’t just another number. It feels like a signal around what crypto is doing next.
Summary:
So why should you care that Bullish raised over a billion dollars in an IPO Can this be more than a crypto splashy moment Read on.
1. Bullish landed $1.1 billion in an IPO priced at $37 a share, above expectations, valuing it at about $5.4 billion.
2. The demand was wild, oversubscribed by over 20-to-1, pushing share count and price up.
3. Trading debut was explosive, stock briefly more than doubled with valuation hitting around $13 billion.
4. Bullish has institutional roots with backing from Peter Thiel and leadership from ex-NYSE president Tom Farley.
5. Bullish also owns CoinDesk and leans into institutional crypto rather than retail altcoins.
Do you remember your first time seeing a stock double on day one That rush Bullish gave off that energy mixed with a serious undercurrent of legitimacy I can’t ignore it.
They priced shares higher than marketed, sold 30 million, pulled in $1.1 billion, and settled around a $5.4 billion valuation. That’s not just Wall Street exuberance as that’s investor conviction. Most IPOs promise wildfire. Bullish actually delivered flames. Shares blasted up over 150 percent hitting around $13.2 billion on debut.
Here’s the thing Few crypto companies have legible paths to institutional capital. Bullish does. A founder who once led the NYSE, big names like Thiel, BlackRock, ARK Invest leaning in. That matters. It suggests that this is not just hype it feels like a turning point.
Owning CoinDesk plugs them right into crypto data and media. That means influence, not just a trading platform. Plus they’re focusing on Bitcoin and Ethereum for institutional players. That’s a strategy not about chasing retail memes, it’s about building infrastructure.
This IPO also comes when the US political environment is tilting crypto friendly. Think stablecoin regulation clarity, 401k crypto policies. That tailwind gave Bullish cover to make this splash.
5 Do’s and Don’ts for Startup Founders, Investors, and Entrepreneurs:
1. Do recognize when a moment is more than hype. Bullish felt like timing and narrative aligned.
2. Do note the value of leadership credibility. An ex-NYSE president gives you a different kind of trust.
3. Do lead with infrastructure and enterprise focus not just retail frenzy. That builds endurance.
4. Don’t ignore how policy and regulatory clarity shape investor behavior. Crypto IPOs rise when rules seem friendlier.
5. Don’t assume this energy will last. Market cycles shift fast, hold your feet onto fundamentals not just buzz.