{"id":41878,"date":"2025-08-13T07:16:56","date_gmt":"2025-08-13T07:16:56","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=41878"},"modified":"2025-08-13T07:16:56","modified_gmt":"2025-08-13T07:16:56","slug":"bullish-crypto-exchange-upsizes-ipo-to-nearly-5-billion-valuation","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=41878","title":{"rendered":"Bullish Crypto Exchange Upsizes IPO to Nearly $5 Billion Valuation"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">Bullish is going bigger than expected. The crypto exchange, backed by Peter Thiel and the <\/span><span data-preserver-spaces=\"true\">owner<\/span><span data-preserver-spaces=\"true\"> of CoinDesk, has increased the size of its IPO to $990 million. The company is now offering 30 million shares priced between $32 and $33, pushing its projected <\/span><span data-preserver-spaces=\"true\">valuation<\/span><span data-preserver-spaces=\"true\"> close to $4.8 billion. Just last week, the goal was $4.2 billion. The Bullish IPO is one of the largest public offerings in crypto since Circle\u2019s debut earlier this year.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">BlackRock and ARK Want In<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The bigger raise <\/span><span data-preserver-spaces=\"true\">isn\u2019t<\/span><span data-preserver-spaces=\"true\"> happening in a vacuum. Major investors like BlackRock and ARK Invest are reportedly taking part, showing that there is <\/span><span data-preserver-spaces=\"true\">real<\/span><span data-preserver-spaces=\"true\"> institutional interest in <\/span><span data-preserver-spaces=\"true\">Bullish\u2019s<\/span><span data-preserver-spaces=\"true\"> debut. JPMorgan, Citigroup, and Jefferies are <\/span><span data-preserver-spaces=\"true\">running point on<\/span><span data-preserver-spaces=\"true\"> the deal, and the company plans to list on the NYSE under the ticker BLSH.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> NEW IPO DROP: Bullish ( <a href=\"https:\/\/twitter.com\/search?q=%24BLSH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">$BLSH<\/a> ) just filed to go public on the NYSE <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f440.png\" alt=\"\ud83d\udc40\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>Price range: $28\u2013$31<br \/>Expected date: 8\/13\/2025<br \/>Valuation: ~$4.3B<\/p>\n<p>Backed by Peter Thiel. Owns CoinDesk. $167M in revenue. A media + crypto play with institutional firepower behind it.<\/p>\n<p>Robinhood\u2019s applying\u2026 <a href=\"https:\/\/t.co\/UrobxA0Gd0\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/UrobxA0Gd0<\/a><\/p>\n<p>\u2014 EmanTheTrader (@miller_eman) <a href=\"https:\/\/twitter.com\/miller_eman\/status\/1952518049606586832?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">August 4, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span data-preserver-spaces=\"true\">The Second Time Might Be the Charm<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">This<\/span> <span data-preserver-spaces=\"true\">isn\u2019t<\/span> <span data-preserver-spaces=\"true\">Bullish\u2019s<\/span><span data-preserver-spaces=\"true\"> first attempt at going public. Back in 2021, it tried to go the SPAC route, aiming for a $9 billion valuation. That effort stalled after running into regulatory issues. This time, Bullish seems to be keeping its expectations in check and focusing on delivering a traditional IPO that aligns better with <\/span><span data-preserver-spaces=\"true\">today\u2019s<\/span><span data-preserver-spaces=\"true\"> market conditions.<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">20+ Next Crypto to Explode in 2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">A Friendlier Climate for Crypto Firms<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The timing of the IPO works in <\/span><span data-preserver-spaces=\"true\">Bullish\u2019s<\/span><span data-preserver-spaces=\"true\"> favor. <\/span><span data-preserver-spaces=\"true\">Crypto regulation in the U.S. is finally starting to settle, especially after the GENIUS Act <\/span><span data-preserver-spaces=\"true\">gave<\/span><span data-preserver-spaces=\"true\"> more <\/span><span data-preserver-spaces=\"true\">definition to<\/span><span data-preserver-spaces=\"true\"> how digital asset companies can operate.<\/span><span data-preserver-spaces=\"true\"> Earlier this year, Circle successfully went public, setting a precedent for what a clean, compliant crypto IPO can look like. Bullish appears to be following that playbook.<\/span><\/p>\n<div class=\"cpp-crypto-chart cpp-crypto-chart-99btc cpp-crypto-chart-btc\" data-coin-symbol=\"btc\" data-price-usd=\"BTC Price (USD)\" data-main-color=\"#4caf05\" data-watermark-image=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/99bitcoins-logo.png\" data-chart-style=\"99btc\">\n<div class=\"cpp-chart-top-section\">\n<div class=\"cpp-chart-info-section\">\n<div class=\"cpp-chart-logo\"><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2024\/02\/26205235\/btc.svg\" alt=\"btc logo\"><\/div>\n<div class=\"cpp-chart-coin-details\">\n<div class=\"cpp-chart-labels-row\">\n<div class=\"cpp-chart-coin-name\">Bitcoin<\/div>\n<div class=\"cpp-chart-price-info\">Price<\/div>\n<div class=\"cpp-chart-market-cap\">Market Cap<\/div>\n<\/div>\n<div class=\"cpp-chart-values-row\">\n<div class=\"cpp-chart-coin-symbol\">BTC<\/div>\n<div class=\"cpp-chart-price\"><\/div>\n<div class=\"cpp-chart-market-cap-value\">$2.39T<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"cpp-chart-selectors cpp-chart-selectors-99btc\"><span class=\"cpp-chart-selector\" data-period=\"24h\">24h<\/span><span class=\"cpp-chart-selector\" data-period=\"7d\">7d<\/span><span class=\"cpp-chart-selector\" data-period=\"30d\">30d<\/span><span class=\"cpp-chart-selector\" data-period=\"1y\">1y<\/span><span class=\"cpp-chart-selector\" data-period=\"all_time\">All time<\/span><\/div>\n<\/div>\n<p><canvas id=\"cpp-chart-689c387aa5664\" class=\"cpp-chart-container cpp-chart-container-99btc\"><\/canvas><\/div>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Best New Cryptocurrencies to Invest in 2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Numbers That Give Investors Something to Work With<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Bullish <\/span><span data-preserver-spaces=\"true\">isn\u2019t<\/span><span data-preserver-spaces=\"true\"> just selling hype. The company is projecting net income of up to $109 million for the second quarter of 2025. <\/span><span data-preserver-spaces=\"true\">That\u2019s<\/span><span data-preserver-spaces=\"true\"> on top of a solid year of trading activity in 2024, which helped the exchange generate real revenue. Unlike many crypto firms that rely on future promise, Bullish has something to point to right now.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Could This Reshape the Crypto IPO Scene?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">This upsized IPO could open the door for more crypto companies to test the public markets. Gemini and BitGo <\/span><span data-preserver-spaces=\"true\">are already rumored<\/span><span data-preserver-spaces=\"true\"> to be in the pipeline. If Bullish pulls this off cleanly, it could become the example others follow. <\/span><span data-preserver-spaces=\"true\">It\u2019s<\/span><span data-preserver-spaces=\"true\"> not just about raising money\u2014<\/span><span data-preserver-spaces=\"true\">it\u2019s<\/span><span data-preserver-spaces=\"true\"> about proving that a crypto-native business can hold its own on Wall Street.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">The Stakes Going Into the First Trading Day<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">All <\/span><span data-preserver-spaces=\"true\">that\u2019s<\/span><span data-preserver-spaces=\"true\"> left is to see how investors respond once the shares start trading. The company has the momentum, the backers, and a market that seems a bit more open to crypto than it was a couple of <\/span><span data-preserver-spaces=\"true\">years<\/span><span data-preserver-spaces=\"true\"> ago. Whether it can maintain that excitement beyond the first few days is another question entirely.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Bullish is trying to do what few crypto companies have pulled off\u2014go public with solid financials, institutional support, and timing that <\/span><span data-preserver-spaces=\"true\">doesn\u2019t<\/span><span data-preserver-spaces=\"true\"> feel wildly off. It may not be the most hyped name in the industry, but this move could quietly shape what comes next.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:\u00a0<\/span><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">20+ Next Crypto to Explode in 2025\u00a0<\/span><\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"nofollow noopener\"><span data-preserver-spaces=\"true\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/span><\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Bullish upsized its IPO to $990 million, pushing its valuation to nearly $5 billion    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Big names like BlackRock and ARK are reportedly backing the deal, adding institutional weight    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        This is Bullish\u2019s second attempt at going public, after a failed SPAC plan in 2021    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Improved U.S. crypto regulation and Circle\u2019s IPO have created a more favorable environment    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Bullish projects strong earnings, making it one of the few crypto firms showing real profits    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/bullish-crypto-exchange-targets-5b-valuation-with-upsized-ipo\/\">Bullish Crypto Exchange Upsizes IPO to Nearly $5 Billion Valuation<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bullish is going bigger than expected. The crypto exchange, backed by Peter Thiel and the owner of CoinDesk, has increased the size of its IPO to $990 million. The company is now offering 30 million shares priced between $32 and $33, pushing its projected valuation close to $4.8 billion. Just last week, the goal was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-41878","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41878"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41878\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}