Bullish Files for IPO Registration with SEC, Plans Potential NYSE Listing Amid Market Challenges

Key Points

1. Bullish filed an F-1 registration with the SEC for a potential NYSE listing under the ticker 'BLSH', with underwriters granted a 30-day option to purchase additional shares.

2. The company reported a net income of $80 million in 2024 but a net loss of $349 million in Q1 2025, contrasting with a $104.8 million profit in the same period last year.

3. Bullish operates in multiple jurisdictions including Hong Kong, the Cayman Islands, Singapore, the UK, Germany, and Gibraltar, leveraging diverse regulatory environments.

4. The IPO filing coincides with increased interest in crypto-related equities, exemplified by Circle's successful IPO and Gemini's confidential SEC filing.

5. The GENIUS Act, recently signed into law, provides a regulatory framework for the crypto industry, potentially benefiting exchanges like Bullish.