Crypto exchange Bullish, backed by billionaire Peter Thiel, successfully launched its market debut, raising $1.11 billion in its IPO and increasing its market valuation to $5.41 billion.
Bullish Successfully Conducts IPO
In a successful IPO, Bullish managed to raise $1.11 billion, selling 30 million shares at $37 each, exceeding its previously set target range. The exchange will start trading on the New York Stock Exchange under the ticker BLSH.
Financial Success and Institutional Backing
Major financial institutions, including JPMorgan, Jefferies, and Citigroup, acted as main underwriters. Additionally, BlackRock and ARK Invest expressed interest in purchasing shares worth up to $200 million.
Rebirth of Crypto Listings in the U.S.
Bullish's IPO comes at a time when confidence in the U.S. crypto capital markets is returning, with several other companies also pursuing public listings. This resurgence is supported by improving market conditions and friendlier regulatory policies.
The success of Bullish's IPO might signal renewed interest in cryptocurrencies among investors, opening new opportunities for many blockchain companies.
