Key Notes

Investor demand drove Bullish’s IPO price up twice before its NYSE listing, nearly tripling its initial range.

Bullish’s first-day surge follows a wave of successful crypto and fintech IPOs in 2025.

Institutions like BlackRock and ARK signaled primary interest, strengthening Bullish’s sector position.

Shares of Bullish, the cryptocurrency exchange backed by Peter Thiel, made an explosive debut on the New York Stock Exchange, opening at $90, a leap of over 200% from its initial public offering price of $37.

This surge instantly placed Bullish’s market capitalization above $16 billion and sparked trading halts due to volatility within minutes of the opening bell. At the close of trading, its market cap stood at $10.23 billion.

Bullish CEO Tom Farley, center, is flanked by Coi

See Full Page