Crypto exchange platform – Bullish has announced plans to raise as much as $629 million through an initial public offering on the New York Stock Exchange. The firm will offer 20.3 million shares priced between $28 and $31, potentially valuing Bullish at $4.2 billion.
According to SEC filings, major institutional backers including BlackRock and ARK Investment Management have expressed interest in buying $200 million worth of shares. Underwriters may purchase an additional 3.045 million shares based on demand.
The IPO proceeds will fund general corporate activities and possible future acquisitions. Bullish operates a crypto trading platform providing spot, derivatives, and liquidity services for institutional clients.
This move follows a wave of crypto-related IPOs, including Circle and eToro, as firms capitalize on growing regulatory clarity and investor interest during the Trump administration. Bullish plans to trade under the ticker “BLSH” and seeks to position itself as a major player in institutional crypto finance.
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