Bullish (BLSH) surged 83% on the first trading day after the 1.1 billion USD IPO

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The cryptocurrency exchange stock Bullish (BLSH) rose 83% to 68 USD during its debut on the NYSE on Wednesday, after selling 30 million shares at 37 USD, raising 1.1 billion USD and reaching a market capitalization of 9.9 billion USD. During the session, the price peaked at 118 USD before closing.

Bullish – co-founded by Block.one CEO Brendan Blumer and backed by billionaire Peter Thiel – targets institutional customers with spot, margin, and derivatives services, having processed $1.25 trillion in trading volume since 2021.

The IPO move comes amid a wave of companies taking advantage of the favorable legal environment under President Trump, such as Circle, Galaxy Digital, and eToro. BLSH shares continue to rise 11% to 75 USD in after-hours trading.

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