Bullish Shares Set to Soar in NYSE Trading Debut
The cryptocurrency exchange Bullish which received backing from Peter Thiel will make its public market entry with shares predicted to start above $74 after its $37 IPO price on Wednesday. The valuation could reach above $12.8 billion when the shares open at the highest end of the $85–$88 price range.
The parent company of CoinDesk secured $1.11 billion from its offering while benefiting from the current digital asset market resurgence. The combination of Bitcoin's peak value and Trump administration pro-crypto policies and ETF investment growth has attracted investors to the market.
Bullish was established in 2020 to focus on institutional clients because executives believe this model generates more stable and continuous revenue streams than retail-focused exchanges like Coinbase which recently joined the S&P 500. The exchange aims to expand its operations through the leadership of CEO Tom Farley who served as NYSE president.
The company has reached a critical stage in obtaining its New York BitLicense which will allow it to operate in the state while following strict compliance regulations. The company plans to use IPO funds to buy stablecoins because new federal regulations allow dollar-pegged cryptocurrency purchases.
The U.S. listing process has begun for Gemini and Grayscale along with other crypto firms which indicates multiple upcoming public offerings. President Chris Tyrer stated that the debut will boost industry growth by providing investors with additional ways to access digital assets.
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