Bullish Leaps Onto Wall Street with Oversubscribed IPO

Cryptocurrency exchange operator Bullish has successfully launched its U.S. IPO, priced at $37 a share above expectations. Its offering raised $1.11 billion, valuing the company at $5.41 billion. This marks a bullish trend for IPOs in the crypto sector, bolstered by favorable U.S. regulations.

Cryptocurrency exchange Bullish has set its sights on Wall Street, pricing its initial public offering at $37 per share, above its anticipated range. The IPO has raised $1.11 billion, valuating the company at $5.41 billion. This move signals a resurging interest in U.S. equity markets, especially for crypto-related ventures.

Bullish's stronger-than-expected IPO coincides with an overall revival of IPO activity in the U.S., aided by crypto-friendly regulations from the Trump era. Previously, the company considered pricing its shares between $32 and $33 before decisive investor interest elevated the final figure.

The firm follows in the footsteps of other market entrants like Circle Internet and Figma, which have seen impressive share price surges. Led by former NYSE president Tom Farley, Bullish offers a variety of trading services and owns CoinDesk.

(With inputs from agencies.)