Bullish Stock Roars in Latest Crypto IPO, Tripling Offering Price

Key Points

1. Bullish's shares (BLSH) rose as high as $118 from an initial offering price of $37, peaking at a 126% increase on the first trading day.

2. The company's market value reached $12.2 billion based on outstanding shares listed in its filing.

3. Bullish's platform allows clients to trade and bet on digital assets, marking the first digital asset exchange to go public on the NYSE.

4. Other crypto-related stocks, like Circle (USDC issuer) and eToro, also experienced significant gains in their public market debuts.

5. The crypto market has seen a more favorable regulatory environment, with SEC approvals for Bitcoin and Ethereum ETFs and reduced legal actions under the current administration.