Bullish Shares Open at $90, Surge Over 200% on NYSE Debut
Bullish, the cryptocurrency exchange backed by Peter Thiel, debuted on the New York Stock Exchange on August 13, 2025, with shares opening at $90, an increase of over 200% from its IPO price of $37. The market cap reached over $16 billion shortly after opening but closed at $10.23 billion.
Key Highlights
- Shares traded under the ticker "BLSH" and peaked above $100 within hours.
- Institutional interest included significant purchases from BlackRock and Ark Invest, totaling up to $200 million.
- The IPO was originally priced between $28 and $31, later adjusted to $37 due to high demand.
- Closed on the first day at $71.25, a 90% increase in value.
- Reflects a growing trend of successful crypto IPOs in 2025 amid rising market optimism.
The performance indicates strong investor appetite for crypto platforms, especially as Bitcoin nears all-time highs. Future success will depend on Bullish's profitability and ability to navigate competition and market volatility.