Bullish, a crypto exchange supported by billionaire Peter Thiel, has announced plans to conduct an initial public offering (IPO) in the United States, opening up new investment opportunities in the digital asset sector.
Details of Bullish IPO
Bullish is offering 20,300,000 ordinary shares priced between $28 and $31 per share. The exchange expects to raise up to $629 million at a valuation of $4.23 billion. Proceeds will be used for general corporate purposes and operating expenses, including future acquisitions.
> "The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed," the exchange stated.
Crypto Market and IPOs
Bullish has filed for listing on the NYSE just days after registering Form F-1 with the U.S. Securities and Exchange Commission in July. The platform’s plans align with overall optimism across the digital asset industry as the U.S. takes steps toward regulating cryptocurrencies. Publicly traded crypto giants in the U.S. include Coinbase and Circle, which has recently become available for trading on the NYSE.
Regulation of the Crypto Industry
Bullish, making its second attempt to go public, hopes to tap into this momentum. The exchange is regulated not only in the U.S. but also in Germany, Hong Kong, and Gibraltar, a factor that might attract investors amid growing interest in digital assets.
Bullish's stock offering taps into growing interest in the digital asset market, potentially signaling further growth and engagement from traditional investors in the crypto industry.
