Bullish (BLSH), a crypto alternate backed by Peter Thiel’s Founders Fund, amongst different powerhouse buyers, made a spectacular market debut below the ticker BLSH yesterday, Aug. 13, The corporate priced its IPO at $37 per share, exceeding the anticipated $32–$33 vary, and raised roughly $1.1 billion with 30 million shares bought.
On day one, Bullish’s shares rocketed, peaking round $118, leading to an astonishing acquire from the IPO worth. Investor urge for food was so intense that buying and selling halts have been triggered amid the volatility. Given its high-profile backing and constructive investor sentiments, do you have to add BLSH to your portfolio?
Bullish is a crypto alternate and digital asset platform headquartered within the Cayman Islands. Bullish is especially notable because the proprietor of CoinDesk, the influential crypto information, information, and index supplier, following its acquisition in 2023.
When Bullish went public yesterday it raised about $1.1 billion and had set an preliminary valuation of round $5.4 billion. Pushed by investor enthusiasm and a meteoric inventory debut, its market cap surged, reaching round $10 billion at present.
Bullish’s debut on the New York Inventory Change was nothing wanting dramatic. Priced at $37 per share, already above its revised providing vary, it opened buying and selling round $90, immediately surging roughly 143% above the IPO worth. The momentum continued noon, with the inventory lifting as excessive as $118, representing a staggering 218.9% intraday bounce over its providing worth. By shut, Bullish settled round $68, nonetheless delivering a formidable acquire of 83.8% from its IPO worth.
As of this afternoon, BLSH sits round $74.
BLSH inventory has not solely defied expectations but in addition underscored intense investor fervor for institutional-grade crypto platforms.
Bullish’s monetary disclosures, as outlined in its SEC F-1 submitting dated July 18, reveal each fast development and the inherent volatility of the crypto sector. The corporate swung from a internet revenue of $104.8 million in Q1 2024 to a internet lack of roughly $348.6 million in Q1 2025. Nonetheless, Bullish ended 2024 with a internet earnings of $79.6 million, displaying its potential to generate profitability in favorable market circumstances.
