Bullish IPO Seeks $4.23B NYSE Listing Under GENIUS Act
Bullish IPO has filed an SEC Form F-1 to raise up to $629 million by offering 20.3 million shares at $28–$31 each. The move values the Peter Thiel-backed crypto exchange at $4.23 billion. Bullish IPO will list on the NYSE under ticker BLSH, tapping growing institutional demand. Under the new GENIUS Act and clearer stablecoin rules, the exchange plans to convert most proceeds into USD-pegged stablecoins via trusted issuers. Backed by Founders Fund, Thiel Capital, Nomura and Mike Novogratz, Bullish targets corporate operations, working capital and acquisitions. Despite a $349 million loss in Q1 2025, rising institutional interest and recent SEC clarity enhance the platform’s market outlook.
Bullish
Bullish IPO’s NYSE listing and SEC filing under the GENIUS Act signal strong institutional support. Clear stablecoin regulations and planned conversion of proceeds into USD-pegged stablecoins can enhance liquidity and facilitate trading. Major backers like Founders Fund and Thiel Capital boost credibility. Although the platform reported a $349 million Q1 loss, growing institutional interest offsets short-term concerns. Overall, these developments are likely to drive a bullish market response for Bullish exchange shares and related crypto assets in both the near and longer term.