Crypto Exchange Bullish Seeks $5 Billion Valuation Ahead of IPO
Elevate Your Investing Strategy:
Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Bullish is aiming to raise $990 million by selling 30 million shares priced between $32 and $33 each. At that pricing, Bullish would have a valuation of $4.8 billion at the top end, according to a filing with the U.S. Securities and Exchange Commission (SEC).
Bullish, which facilitates the trading of cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), had previously marketed 20.3 million shares in a price range of $28 to $31 a share, giving it a $4.2 billion valuation. Bullish stock will trade on the New York Stock Exchange under the ticker symbol 'BLSH.'
Highly Anticipated Offering
The Bullish IPO is highly anticipated, with reports that asset managers BlackRock (BLK) and Cathie Wood's ARK Invest have expressed interest in buying up to $200 million of the shares. Bullish is the latest cryptocurrency firm to go public.
Stablecoin issuer Circle Internet Group (CRCL) had a successful market debut in June. Crypto custody start-up BitGo and Gemini, the crypto exchange run by twin brothers Tyler and Cameron Winklevoss, have confidentially filed paperwork to also hold an IPO this year.
Is BTC a Buy?
three-month performance. As one can see in the chart below, the price of BTC has risen 16.08% in the last 12 weeks.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
20 minutes ago
- Business Insider
Roth MKM tech & Internet analysts hold analyst/industry conference call
Technology & Internet Analysts hold an Analyst/Industry conference call entitled, 'In Google We Trust–Debating Next Steps With Anti-Trust Legal Experts to be held on August 19 at 1 pm. Webcast Link Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Bloomberg
an hour ago
- Bloomberg
Bloomberg Daybreak Asia: US CPI Fuels Fed Cut Bets
Stocks climbed to a record after an in-line US inflation reading bolstered speculation the Federal Reserve will have room to cut rates in September. US inflation data bolstered expectations that the Fed can move toward rate cuts without reigniting price pressures. While underlying inflation accelerated to the strongest since the start of the year, the modest gain in goods prices eased fears that trade-related costs may feed into broader price pressures. We get reaction from Charles Lieberman, Co-Founder and Chief Investment Officer at Advisors Capital Management. Plus - Bitcoin continues to flirt with an all-time high as demand from institutional investors and corporate treasury buyers lifts the wider market for digital assets. A recent executive order from US President Donald Trump clears the way for digital assets to be added to the mix of investments available in workplace retirement plans - and for ordinary investors dissatisfied with the returns from target-date funds or the traditional 60/40 portfolio to push their savings into riskier assets. We talk all things crypto with Peter Chung, Head of Research at quant trading firm Presto in Hong Kong.
Yahoo
an hour ago
- Yahoo
Michael Saylor's Latest Bitcoin Buy Is Strategy's Smallest in Months
Bitcoin treasury company Strategy announced another crypto buy on Monday, bringing the behemoth's total holdings to 628,946 BTC—or over $75.5 billion in digital coins at the current price. The Tysons Corner, Virginia-based firm announced that over the last week it bought 155 BTC for $18 million—a relatively small buy compared to previous purchases. The company has spent over $2 billion on Bitcoin in some past buys, including its last purchase on July 29, when it acquired 21,021 BTC at a price of nearly $2.5 billion. But the latest purchase, announced on the five-year anniversary of the company's first Bitcoin buy, was the smallest since March, when the company spent just $10.7 million on the asset. That purchase remains its lowest so far in 2025. Strategy—formerly MicroStrategy—started buying Bitcoin in August 2020 as a way to get better returns for its shareholders as inflation rocked the U.S. and world economies during the COVID-19 pandemic. It is now the largest corporate holder of the asset and mostly works now to securitize Bitcoin: Its business model works so that investors can buy its shares to get exposure to the leading cryptocurrency. The company issues debt to fund its purchases, and since Strategy first bought Bitcoin exactly five years ago, its stock (Nasdaq: MSTR) has rocketed up by over 2,700%. MSTR was recently trading at $411 per share, while Bitcoin hit a price of $120,095 per coin on Monday morning New York time, according to CoinGecko data. Bitcoin Price Closes in on All-Time High as Traders Await Key Inflation Data The largest cryptocurrency by market cap is up 27% year-to-date. Its all-time high stands at $122,838. MSTR's record stock price stands at nearly $499 per share, from last November. A number of smaller publicly traded companies have adopted the Bitcoin treasury plan. But some experts have warned that the crypto play can't help every company, and is inherently risky. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
