Cryptocurrency Initial Public Offering raises $1.1 billion, joining Circle and eToro in the public's growing investment surge in the crypto market.
In a significant move for the cryptocurrency industry, Bullish has integrated Solana, enabling global payments with SOL, USDC, and USDT. This development marks another milestone in Bullish's journey, which has seen the company debut on the New York Stock Exchange (NYSE) with a much higher valuation than initially expected.
Bullish: A Billion-Dollar IPO and a Valuation of $10.25 Billion
Bullish, with a valuation of $10.25 billion, made a grand entrance on the NYSE. The company raised $1.1 billion in its Initial Public Offering (IPO), with shares initially priced at $37 but opening at $90 on the NYSE under the ticker BLSH. This impressive debut was backed by prominent investor Peter Thiel, and significant expressed interest in the IPO from funds managed by BlackRock and ARK Investment Management (potentially up to $200 million in shares). The IPO was led by JPMorgan Chase, Jefferies Financial Group, and Citigroup.
A Tumultuous Journey to Public Listing
Bullish's journey to public listing was not without its twists and turns. The company had previously attempted to go public via a $9 billion Special Purpose Acquisition Company (SPAC) deal in 2022, which was later abandoned.
Competition on the Horizon
Bullish faces competition from established players in the crypto space, such as Coinbase, Kraken, BitGo, and Gemini, all of which are public crypto firms. The sustained momentum post-listing for Bullish could cement digital asset firms as mainstream Wall Street players. However, a stumbling post-listing for Bullish may lead to questions about the durability of the current Initial Public Offering (IPO) wave.
Bullish Owns CoinDesk
In addition to its significant valuation and high-profile investors, Bullish also owns CoinDesk, a leading media outlet in the cryptocurrency space.
Circle and eToro: Public Market Details Unavailable
As of August 2025, there are no recent or direct public listings of Circle or eToro on traditional exchanges reported in the search results. Therefore, specific current valuations and key investors for these companies related to public markets are not available from the provided data.
In summary, Bullish stands out as a major crypto firm currently public on a traditional exchange with a strong IPO valuation exceeding $10 billion and backing from major investors including Peter Thiel and BlackRock. The crypto era of public market legitimacy is underway, with Bullish now in the mix, while details for Circle and eToro remain elusive.
On top of its notable valuation of $10.25 billion and ownership of CoinDesk, Bullish also integrates Solana, paving the way for global payments with SOL, USDC, and USDT. This integration sets Bullish apart from competitors like Coinbase and Kraken, which are also public crypto firms, as it expands its support for DeFi and DEX platforms, further cementing digital asset firms as mainstream Wall Street players.
In contrast, Circle and eToro, despite their significant presence in the crypto space, have yet to provide details about their public market plans, making their specific valuations and key investors related to public markets unavailable as of August 2025.
Bullish's decision to list on the NYSE with a much higher valuation than initially expected and its successful IPO backed by investments from prominent figures like Peter Thiel and BlackRock solidifies technology's influence on finance and investing.
Amidst these developments, Bullish's journey reflects the fast-paced and evolving landscape of the crypto industry, where innovation and adaptation are key to success, as seen in their shift from a SPAC deal to a traditional IPO.
As Bullish continues to innovate and expand, the question remains whether the company can sustain its momentum in the long run and continue to influence the crypto and traditional finance markets. Technology's impact on finance and investing is evident, but the future success of crypto firms like Bullish may yet shape the overall paradigm of the industry.
