The Bullish Exchange Soars on NYSE Debut With $13.2 Billion Valuation
Main Idea
Bullish, a digital assets exchange led by former NYSE president Tom Farley, successfully went public with a notable IPO, joining other crypto institutions like Coinbase and Circle in the public market.
Key Points
1. Bullish's IPO on the NYSE under the ticker BLSH saw an opening stock price of $90, reaching a high of $118 before adjusting to $68.
2. The initial valuation aimed for an opening stock price of $28 to $31, but the IPO became one of the most successful for the year, targeting $629.3 million by selling 20.3M shares.
3. Other crypto exchanges like eToro and Coinbase have also gone public, with Coinbase achieving a valuation of $85.8 billion in April 2021.
4. BitFuFu Inc., a Bitcoin mining company, completed a SPAC merger and joined the NASDAQ in March 2024.
5. Circle, the issuer of the second-largest stablecoin, raised $1.1 billion in its IPO, valuing the company at $6.9 billion when it listed on the NYSE.
Description
Tom Farley, the former president of the prominent New York exchange and now the CEO of Bullish, saw his new endeavor achieve impressive results following its public listing. The Peter Thiel-backed exchange is joining industry counterparts in a growing list of crypto corporations that are gaining access to traditional stock markets and indexes. Star Premiere The digital assets exchange Bullish rang the New York Stock Exchange (NYSE) opening bell earlier this week, signaling a successful initial p...
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