Bullish Shares Surge to $102 on First Day of NYSE Trading
Shares of crypto exchange Bullish (BLSH) opened at $102 on their first day on the New York Stock Exchange, after pricing its initial public offering (IPO) at $37 per share, valuing the company at $5.4 billion.
- Bullish increased its IPO share count to 20.3 million due to high investor demand.
- BlackRock and Ark Investment Management showed interest in purchasing up to $200 million worth of shares.
- Bullish aims to attract institutional investors, differentiating itself from retail-focused exchanges like Coinbase and Kraken.
- The exchange reported over $1.25 trillion in trading volume since its launch in 2021.
- The IPO indicates growing institutional confidence in the crypto sector amid a favorable regulatory environment.
- Continuing success will depend on regulatory clarity and market stability.
The debut coincides with increasing interest from Wall Street as U.S. regulators near a framework for cryptocurrency engagement.