Bullish Cryptocurrency Exchange Debuts on NYSE
Bullish, a cryptocurrency exchange backed by Peter Thiel, successfully debuted on the New York Stock Exchange on August 13, 2025, raising approximately $1.1 billion in its initial public offering (IPO).
The company priced its shares at $37, above the expected range of $32 to $33, and opened at $90, representing a 143% increase. During trading, shares peaked at $118 before closing at $70, resulting in an overall gain of nearly 90% and a market capitalization exceeding $10 billion. This marks a significant milestone for Bullish, which had previously attempted to go public via a SPAC merger in 2021.
The IPO reflects growing institutional interest in the cryptocurrency sector, with Bullish positioning itself as a key player in the market by combining decentralized finance protocols with centralized security. The successful launch follows a series of high-profile IPOs in the tech and crypto sectors, indicating a robust appetite for new offerings in the market.