If you do decide to buy shares of BLSH stock when they first begin trading, do so in a small amount that you can afford to lose and have a trading plan in place. And following in the footsteps of these successful offerings is Bullish, a Peter Thiel-backed cryptocurrency exchange and owner of CoinDesk, which began trading on August 13 on the New York Stock Exchange under the ticker symbol “BLSH.” Bullish recently completed a high-profile IPO and is positioned for growth with U.S. crypto market entry and crypto options trading. The institutional crypto exchange reported mixed Q2 ’25 results, wi…

Bullish to announce second quarter 2025 financial results and host inaugural earnings conference call

  • With tier-1 licenses and a deeply liquid global order book, Bullish offers tight spreads and low fees to institutions and advanced traders.
  • Smith adds that experienced IPO investors tend to have a “healthy amount of Good FOMO across market cycles,” and are able to “keep their emotions in check, know that volatility is not risk, and use risk controls like stop-losses.”
  • Bullish has seen volatile trading since its IPO, with shares down over 50% from their initial spike.
  • According to Renaissance Capital’s Kennedy, investors will focus on “how efficient (Bullish is) and how profitable it is as a pure exchange, without the impact of quarterly price changes.”
  • BLSH’s revenue is heavily reliant on crypto holdings, with transaction income declining and CoinDes…

Bullish added that it planned to initiate the IPO “as soon as practicable after this Registration Statement becomes effective.” Activity in the initial public offering (IPO) market is accelerating following a slowdown this spring. According to Renaissance Capital, there have been 133 IPOs priced this year through August 13, a 58% increase from the year prior. Shares of Bullish (BLSH) surged Thursday after the cryptocurrency exchange backed by billionaire Peter Thiel reported that it posted a profit on higher sales and trading volume. For retail investors, whether or not you buy the Bullish IPO comes down to your own risk tolerance and personal investing goals.

Bullish, the cryptocurrency exchange backed by billionaire Peter Thiel, said it would be seeking a valuation of more than $4 billion in an initial public offering (IPO). Meanwhile, public crypto exchange Coinbase reported a drop in second-quarter adjusted profit on Friday, due to a slowdown in trading, which dragged its shares down nearly 17%, even though the company recorded portfolio gains. With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis. A host of investment banks release their first research notes on the crypto company after its initial public offering last month.

Bullish Set To Benefit From ‘Huge’ Crypto Tailwind, Though Scale Concerns Persist

High-profile asset management firms BlackRock and Ark Investment Management have shown interest in accumulating a notable stake in BLSH stock. Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail. Bullish obtains New York DFS BitLicense, unlocking Q4’2025 US market entry Q2’2025 Digital asset sales of $58.6 billion and net income of $108.3 million Q2’2025 Adjusted Revenue of $57.0 million and A… Diane King Hall takes a closer look behind Nvidia’s (NVDA) investment into Intel (INTC) and how the two companies will combine their tech.

  • Bullish, whose CEO Thomas Farley previously served as president of the New York Stock Exchange, operates a crypto-trading exchange targeting institutions.
  • At the top of its proposed range, the company will list at a more than 52% discount to its $9 billion valuation target in a 2021 blank check merger that it called off in 2022, citing regulatory hurdles.
  • After peaking at $117, it has plunged to $52, erasing billions of dollars in value as its market capitalization fell to $7.65 b…
  • The institutional crypto exchange reported mixed Q2 ’25 results, wi…
  • Activity in the initial public offering (IPO) market is accelerating following a slowdown this spring.

Peter Thiel-backed Bullish seeks up to $4.2 billion valuation in U.S. IPO

Services are available to eligible customers in select locations. Visit legal for more important information and risk warnings. In its prospectus, the company reported its first-quarter trading volume grew 78% from 2024, and it had an average daily volume of $2.55 billion.

Should you buy BLSH stock?

According to Renaissance Capital’s Kennedy, investors will focus on “how efficient (Bullish is) and how profitable it is as a pure exchange, without the impact of quarterly price changes.” Bullish, whose CEO Thomas Farley previously served as president of the New York Stock Exchange, operates a crypto-trading exchange targeting institutions. If you miss the initial public offering pop, there’s almost always a chance to buy the dip. Bullish has seen volatile trading since its IPO, with shares down over 50% from their initial spike. BLSH’s revenue is heavily reliant on crypto holdings, with transaction income declining and CoinDes… Bullish priced its offering at $37 per share on August 12, above the previous range of $32 to $33 per share.

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Bullish swung to a $349 bullish harami candlestick pattern million loss for the quarter ended March 31, compared with a profit of $105 million a year earlier, reflecting a fall in fair value of its crypto holdings. It also operates crypto news website CoinDesk, which it acquired from Barry Silbert’s Digital Currency Group in 2023. Companies leveraging crypto and related technologies have rallied on friendly policymaking from the Trump administration, such as the recent passage of the GENIUS Act, which provides an initial regulatory framework for stablecoins.

CEO Tom Farley said that “the digital assets industry is at the inflection point of institutional adoption and Bullish is uniquely positioned at the center of this market.” In a regulatory filing Monday, the company said it would be offering for sale 20.3 million shares at a price range of $28 to $31 each, or as much as $629.3 million. In addition, the underwriters have 30 days from the publication of the prospectus to purchase another 3.045 million shares.

Some investors tend to overlook the impact of quarterly swings in crypto prices when evaluating such companies, analysts have said. At the top of its proposed range, the company will list at a more than 52% discount to its $9 billion valuation target in a 2021 blank check merger that it called off in 2022, citing regulatory hurdles. Bullish is seeking up to $629.3 million by offering 20.3 million shares priced between $28 and $31 each, marking its second attempt to go public in four years. Bullish shares have soared post-IPO but remain highly volatile and disconnected from underlying business fundamentals.

She later talks about Reddit’s (RDDT) leap to an all-time hig… According to 11 analysts, the average rating for BLSH stock is “Buy.” The 12-month stock price target is $56.9, which is a decrease of -15.82% from the latest price.

Bullish Reports Second Quarter 2025 Results

With tier-1 licenses and a deeply liquid global order book, Bullish offers tight spreads and low fees to institutions and advanced traders. Profit and prosper with the best of Kiplinger’s advice on investing, taxes, retirement, personal finance and much more. As for its market debut, shares opened today at $90, hit an intraday high of $118, and settled at $68.

Core exchange revenues are modest, with profitability driven mainly by volatile f… Bullish stock price has been in a free fall since its listing in August. After peaking at $117, it has plunged to $52, erasing billions of dollars in value as its market capitalization fell to $7.65 b… Bullish has shown strong institutional interest post-IPO, reporting robust Q2 results and a swing to profitability, despite shares being down 21% since going public. Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time. Smith adds that experienced IPO investors tend to have a “healthy amount of Good FOMO across market cycles,” and are able to “keep their emotions in check, know that volatility is not risk, and use risk controls like stop-losses.”

And based on the 30 million shares it said it will sell in its offering, Bullish raised $1.1 billion in its IPO. The company also said in its regulatory filing that its underwriters, which include JPMorgan, Jefferies and Citigroup, have the option to sell an additional 4.5 million shares over the next 30 days. The Peter Thiel-backed crypto company went public on August 13, and BLSH stock nearly doubled in its market debut.