Bullish Crypto Exchange Starts Its IPO Journey, Aiming for $4.3 Billions Valuation
The well-known crypto trading platform Bullish , backed by billionaire investor Peter Thiel, has officially kicked off its IPO process in the United States . The company is planning to go public by listing its shares on the New York Stock Exchange (NYSE) under the ticker BLSH . This move comes after many months of preparation and signals a major step forward for the crypto industry.
According to the company’s plan , they are hoping to raise around $629 million by selling 20.3 million shares . They are offering these shares in the price range of $28 to $31 per share, which means the company’s total valuation could go up to nearly $4.23 billion . This will make Bullish one of the biggest crypto exchanges to go public in recent times.
Also, the company has given its bankers an option to buy an extra 3 million shares within a 30-day window , in case the demand is very strong . This is a common strategy used in IPOs to handle oversubscription.
The IPO is being managed by big financial firms like J.P. Morgan, Jefferies, and Citigroup, who are working as the lead underwriters . That means they will help sell the shares and bring investors on board.
Interestingly, some big names in the investing world are already showing interest. BlackRock and ARK Invest, which are two major investment firms , might buy up to $200 million worth of shares in the IPO . However , it’s not yet confirmed, because they have only shown non-binding interest for now , so they can still change their minds.
Why Now?
Bullish has chosen a good time to go public , as the U.S. regulatory environment for crypto is becoming slightly more favourable . A new law called the GENIUS Act has recently been passed , which gives more clarity around how stablecoins (a type of crypto that is linked to real-world money) will be regulated . This kind of support makes investors feel more confident and companies like Bullish see it as a good chance to grow .
You may remember that Bullish had actually tried to go public earlier in 2021, through a different route using a SPAC merger. But at that time, the crypto market was going through a tough phase, and there was a lot of confusion around U.S. crypto rules . So that deal was cancelled . Now, they’re trying again ,this time with a traditional IPO and the timing looks better.
What Does Bullish Do?
Bullish is not just a normal crypto exchange. It uses blockchain technology to provide faster and more secure trading, and it’s also known for having a good mix of features that appeal to institutional investors. On top of that, the company owns CoinDesk, which is one of the most popular crypto news websites in the world. So, it has a strong presence both in trading and in crypto media.
Final Thoughts
If everything goes according to plan, Bullish will soon become one of the rare crypto companies to get listed on a major U.S. stock exchange . This could open the door for more crypto businesses to follow the same path. It also shows that investor confidence in the crypto space is slowly coming back, especially now that regulations are becoming more structured.
For Indian investors or crypto enthusiasts who are keeping an eye on international trends , this IPO is definitely worth watching . It might not directly affect asian markets for now, but it sets the tone for how global crypto companies are being accepted by mainstream investors .