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Bullish, a crypto platform backed by billionaire Peter Thiel, is seeking to elevate as much as $629 million via an preliminary public providing (IPO).
In an up to date F-1 submitting with the US Securities and Trade Fee (SEC), the crypto trade operator and CoinDesk proprietor outlined plans to situation 20.3 million shares priced at between $28.00 and $31.00.
That might worth Bullish at $4.2 billion. If authorized, shares within the firm may begin buying and selling as early as Aug. 12.
BlackRock And ARK Make investments Have Indicated Curiosity In Bullish Shares
In response to the submitting, main monetary establishments have already indicated curiosity in Bullish shares.
Amongst these establishments are funding accounts managed by subsidiaries of asset administration big, BlackRock, and Cathie Wooden-led asset supervisor, Ark Make investments. These accounts have signaled their intention to purchase as much as $200 million in Bullish shares on the IPO value.
Bullish, a cryptocurrency trade has filed for an IPO on the NYSE underneath the ticker $BLSH
Right here’s a thread with key particulars in regards to the upcoming IPO.
🧵 👇 pic.twitter.com/xY2SJJRD7A
— John Muchow, MSCS (@JohnMuchow) August 4, 2025
A few of the proceeds will likely be transformed into US dollar-denominated stablecoins, the submitting stated.
A number of Crypto Firms Pursue Public Listings
Bullish is the most recent in a collection of crypto corporations pursuing public listings, and follows the profitable public debut of USD Coin (USDC) issuer, Circle. Shortly after its itemizing, the corporate’s shares have been up 500% at one level. It has since pulled again, however continues to be up greater than 138% from its debut, knowledge from Yahoo Finance reveals.
Crypto-focused asset supervisor Grayscale Investments has additionally jumped on the development with its personal confidential draft registration assertion, whereas crypto trade Kraken is eyeing a 2026 IPO at a $15 billion valuation. BitGo filed for a US public providing in July as nicely, however didn’t disclose the variety of shares or its focused valuation.
There are additionally experiences that OKX is contemplating its personal IPO after resuming operations within the US in April this yr.
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