Shares of the cryptocurrency exchange Bullish surged in early trading on the New York Stock Exchange, reflecting increasing institutional interest in crypto assets.
Bullish's Market Debut
Bullish shares opened at an IPO price of $37, above the planned range of $32 to $33. The stock reached an intraday high of $118 but settled at $86, valuing the company at approximately $13 billion.
Strong Demand for Shares
The company escalated its offering to 30 million shares due to strong demand, up from the initially planned 20.3 million shares.
Legislative Impact on the Cryptocurrency Market
Recent legislative efforts, such as the GENIUS Act and CLARITY Act, have created a more favorable environment for digital asset companies, encouraging interest in public markets.
Bullish's debut on the New York Stock Exchange demonstrates growing institutional interest in the crypto sector, potentially leading to further developments in this market.