Bullish Crypto IPO 2025 Aims to Raise $629M in Landmark Listing
By Shugal News
1. Bullish Crypto IPO 2025 Targets $629M in Major Capital Raise
Bullish Global, the Peter Thiel–backed crypto exchange, has officially filed for a public listing in the U.S., with plans to raise up to $629.3 million through its Bullish Crypto IPO 2025. The company aims to list on the New York Stock Exchange under the ticker “BLSH.” Underwriters J.P. Morgan, Jefferies, and Citigroup are leading the offering. This marks Bullish’s second IPO attempt after a previously failed SPAC plan.
2. Valuation, Share Structure and Institutional Support in Bullish Crypto IPO 2025
In its regulatory filing, Bullish disclosed it will sell 20.3 million ordinary shares priced between $28 and $31 each. At the $31 price point, the offering would value the company at up to $4.23 billion. Institutional investors including BlackRock and ARK Investment Management have indicated interest in purchasing up to $200 million worth of stock. Proceeds are expected to be partly converted to U.S. dollar–denominated stablecoins, a strategic move tailored to market positioning.
3. Bullish Crypto IPO 2025 Arrives Amid Crypto Market Expansion
The timing of the Bullish Crypto IPO 2025 aligns with a broader resurgence in crypto-focused public offerings. Stablecoin issuer Circle launched its IPO earlier this summer raising over $1 billion. Similar filings are underway from exchanges like Gemini, Kraken, and BitGo. Bullish’s IPO is seen as part of a renewed bullish sentiment among institutional investors in digital assets, supported by a more favorable regulatory environment.
4. Company Background and Strategic Position
Launched in 2021 under Block.one, Bullish operates as an institutional-grade digital asset exchange with presence in over 50 jurisdictions. It owns CoinDesk, a leading crypto media platform with nearly 5 million monthly unique visitors. Since its launch, Bullish has reported trading volumes exceeding $1.25 trillion. Despite this scale, it posted a net loss of $348.6 million in the first quarter of 2025, a steep reversal from $104.8 million in profit one year earlier.
5. Bullish Crypto IPO 2025: Risks, Opportunities and Future Outlook
Investors view the Bullish Crypto IPO 2025 as both a high-stakes opportunity and a potential risk. If successful, the company would gain stronger regulatory credibility and accelerate expansion in the U.S., UK, and Asia. However, its recent financial losses and the volatile nature of crypto markets pose long-term headwinds. Analysts believe success will depend on maintaining institutional trust and regulatory transparency.
🧭 Conclusion
The Bullish Crypto IPO 2025 represents a landmark moment for crypto firms seeking mainstream capital market validation. With a valuation target near $4.2 billion, major institutional backing, and high-profile underwriters, the offering reflects sustained optimism in digital asset finance. As the IPO roadshow begins, all eyes remain on Bullish’s ability to balance growth ambitions with the kind of financial discipline required for public market success.
