Crypto stock jumps over 100% after IPO debut
Bullish, a cryptocurrency exchange operator, made a stunning debut on the New York Stock Exchange, with its shares soaring over 100% after its initial public offering (IPO). The stock opened at $90, more than double its IPO price of $37, reflecting strong investor confidence in the crypto-focused exchange.
This impressive listing is a clear indicator of the market’s enthusiasm for digital asset-related stocks, making it one of the year’s biggest opening-day successes. Bullish, backed by investors like Peter Thiel and led by former NYSE president Tom Farley, raised approximately $1.1 billion in its IPO, further solidifying its position in the crypto market.
Launched in 2021, Bullish aims to bridge the gap between institutional-controlled DeFi protocols and the security of a centralized exchange. Farley emphasized the shift towards institutional investment in the crypto space, stating that the company’s IPO garnered significant interest from professional funds and institutional investors.
Since its debut, Bullish has facilitated over $1.25 trillion in transactions as of March 31 and also owns the popular crypto news media site CoinDesk. The stock’s initial trading price of $90 represented a 143% increase over its IPO price, reaching a high of $102.44 per share before stabilizing.
The company initially set its IPO price range higher than expected, indicating a strong market demand. With a market value exceeding $5.4 billion before trading commenced, Bullish’s successful listing comes amidst a wave of crypto businesses going public. At present, the stock is trading at $86.40, marking a remarkable 133.51% increase from its IPO price.
Overall, Bullish’s IPO success underscores the growing interest in digital assets and institutional investment in the crypto market. As the industry continues to evolve, companies like Bullish are at the forefront of driving innovation and shaping the future of finance.
This article was rewritten based on the original content from TheStreet on August 13, 2025.
