Bullish Stock Trades at $53.33 After NYSE IPO Debut

Bullish US Operations LLC received a BitLicense and Money Transmission License from the New York State Department of Financial Services (NYDFS), enabling it to offer spot trading and custody services for cryptocurrencies to "advanced traders" and institutions.
The authorization marks a significant regulatory milestone for Bullish, enhancing its credibility in New York's financial sector.
Bullish went public on August 13, 2025, under the ticker "BLSH." The stock initially surged above its IPO price, reaching over $100 before stabilizing at $53.33.
The company raised $1.15 billion from its IPO, primarily in stablecoins like USDC and EURC.
Ark Invest, led by Cathie Wood, purchased over 2.53 million shares of BLSH, valued at approximately $172.2 million.
Bullish joins a select group of digital asset platforms with dual authorization from NYDFS for spot cryptocurrency trading.
Founded in 2020 with support from investors like Peter Thiel and Alan Howard, Bullish has a market cap of around $7.83 billion as of September 17, 2025.