Bullish (NYSE: BLSH), the Peter Thiel-backed cryptocurrency exchange and owner of CoinDesk, is set to debut on the New York Stock Exchange today between 14:00–17:00 GMT at $37 per share, well above its earlier expected range of $32–$33. This IPO price values the Cayman Islands–headquartered company at $5.4 billion and will raise $1.1 billion through the sale of 30 million shares.
Expected to Open Strong: Wall Street foresaw a blockbuster debut. Pre-market indicators showed the stock poised to open between $60–$65, implying gains of nearly 75% — possibly valuing the company at over $9.5 billion on day one.
Why the Frenzy?
- Crypto pipelines are hot after the new Genius Act stablecoin framework, giving regulatory clarity and boosting investor confidence
- Institutional demand surged, with giants like BlackRock and ARK Invest pledging up to $200M in the offering
- Bullish positions itself differently by targeting institutional clients, aiming for stable revenues rather than retail fluctuations
How It Stacks Up: The Bullish IPO adds to a strong summer for crypto listings—following circle’s explosive return and Figma’s pop—helping fuel a “spillover effect” in IPO markets, where early success fuels enthusiasm for others.
But IPOs fueled by hype can trail off later: research shows listings with high pre-debut excitement often see weaker long-term performance, despite explosive early gains.
Investor Mood Board
- Short Term: Bullish is riding high—a huge splash, massive demand, and pre-market signals suggest explosive opening prices.
- Mid Term: A smooth debut could position it alongside other crypto mainstays like Coinbase.
- Long Term: Watch for broader crypto sentiment, performance of Bitcoin & ETH, and whether Bullish delivers on institutional credentials.
With a pure institutional focus, seasoned leadership, and a favorable regulatory climate, Bullish is positioning itself as a long-term player in the digital asset space. Investors and traders will be watching closely to see whether BLSH mirrors the explosive gains of its crypto peers, or charts its own course.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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