Bullish, backed by Peter Thiel, has filed for an IPO on the New York Stock Exchange, aiming for a $4.23 billion valuation. The platform seeks significant investments to expand its influence in the digital asset market.
IPO Filing and Company Valuation
Bullish has filed for an IPO on the New York Stock Exchange with a target valuation ranging from $4.2 to $4.3 billion. The platform plans to offer 20.3 million shares priced between $28 and $31. Detailed information can be found in the SEC filing.
Leadership of CEO Thomas W. Farley
The driving force behind the IPO is CEO Thomas W. Farley, former NYSE president. The IPO, scheduled around August 11, 2025, aims to raise approximately $599–$629 million, marking a significant growth step for the company. Farley stated that "Bullish was founded in 2020 with the vision to build an institutional-grade global exchange enabling optimized execution powered by a customizable, compliance-first infrastructure".
Impact of IPO on Digital Asset Market
Bullish's IPO could significantly enhance its market position, attracting attention from major institutional investors. Companies like BlackRock and ARK Investment Management plan to invest up to $200 million. This will enable Bullish to occupy a leading position among crypto exchanges and increase trading volumes for both Bitcoin and Ethereum.
Bullish's CEO Thomas W. Farley and his team hope that a successful IPO will enhance liquidity and system performance, positively impacting the trading dynamics in the digital asset market.
