Bullish Raises IPO Valuation 60% Amid Surge in Institutional Crypto Demand
– Bullish, backed by Peter Thiel, raised its IPO target to $1B valuation, a 60% increase, offering 30M shares at $32–$33.
– Major banks like JPMorgan and Citigroup underwrote the IPO, while BlackRock and ARK showed strong institutional interest.
– The $72.6M CoinDesk acquisition strengthens Bullish’s media-trading integration, targeting institutional and retail investors.
– Recent crypto listings like Circle’s $1B IPO (140% gain) signal growing public market acceptance of digital asset firms.
– Bullish’s valuation hike reflects traditional finance’s shifting stance, viewing crypto as a legitimate, expanding asset class.
