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Crypto revolution: Bullish starts on the stock market today with billion-dollar IPOs!
Bullish, the trading platform led by Peter Thiel, launches its IPO on the NYSE today at a valuation of $5.4 billion.
Crypto revolution: Bullish starts on the stock market today with billion-dollar IPOs!
Today, the IPO of the Bullish trading platform marks another milestone in the crypto world. Bullish goes public with an issue price of $37, attracting attention from investors. The shares were previously priced in the $32 to $33 price range and are now 20 times oversubscribed. In the first issue, 30 million shares were placed with an issue volume of USD 1.1 billion, without taking into account the over-allotment option (greenshoe) of 4.5 million shares. This high demand is also reflected in the company's valuation, which is based on the issue price at USD 5.4 billion stock3.com reported.
The IPO is supported by a banking consortium led by JPMorgan and Jefferies, with participation from Deutsche Bank. Particularly notable are the capital commitments from BlackRock and Ark Investment, each pledging $200 million, underscoring the confidence in the platform. Bullish is primarily aimed at professional and institutional investors to ensure liquidity through affiliated market makers.
Importance of the IPO
The move towards the stock market follows a period of rising prices, particularly for Bitcoin and Ethereum, which have seen a recovery since spring 2025. This creates a prerequisite for the successfully planned IPO, which is larger than previously announced. Bullish could also be seen as a signal of confidence in the crypto industry after extensive bear markets. The impact of these developments on smaller investors is also significant, as a variety of new investment opportunities, such as the Maxi Doge and TOKEN6900 projects, are gaining interest.
These projects offer interesting staking options and clear tokenomics, making them attractive to both institutional and retail investors. At the same time, it should be noted that despite the current boom times, there are high fees and limited trading activity in the crypto sector, as the analysis by thecoinrepublic.com shows.
BaFin's license for trading and custody of crypto assets since January 2023 is a further sign of the regulatory clarity that is currently being promoted in the USA by the GENIUS Act. The upcoming IPO could also serve as an indicator for the next major IPO, that of Gemini, launched by the Winklevoss twins.