Bullish IPO nets $1.1b, joining Circle, eToro in crypto’s public surge

Bulnish joins Circle and Etoro in an increasing list of cryptographic companies commanding $ 1 billion assessments on traditional exchanges. With actions at a price of $ 37, above the expected range, the beginnings of NYSE point out that institutional capital doubles digital assets.

According to a Bloomberg report On August 13, Crypto Exchange Haussière estimated its IPO at $ 37 per share, beating the first expectations from $ 32 to $ 33 and guaranteeing an evaluation of $ 5.4 billion. The offer was taken out by tradfi giants, including JPMorgan, Jefferies and Citigroup.

The size agreement, which included 30 million shares instead of the planned 20.3 million, raised $ 1.1 billion. The demand was anchored by heavy goods vehicles such as Blackrock and Ark Investment Management of Cathie Wood, which acquired up to $ 200 million in shares.

The NYSE list, which should exchange under Ticker BLSH, marks an arc of redemption for bullshit after the collapse of the spac in 2022. This time, the company is supported by the co-founder of Paypal, Peter Thiel, and led by the former president of the NYSE, Tom Farley.

The wave of IPO Crypto

Bullish’s IPO follows a series of high -level cryptography lists, each emphasizing the growing attraction of the sector to traditional investors. The Circle of Stablecoin issuers set the tone in June with an offer of $ 1.2 billion, after which its shares jumped 500%, defying the skeptics which wondered if the stablecoins could order such assessments.

Meanwhile, the IPO of Etoro, enhancing the negotiation platform at $ 5.4 billion, has proven that retail cryptography companies can find success on public procurement, even if its actions then decreased on standardized trading volumes.

Can he engage in bullish? The question of $ 1.25 billion

With 1.25 billion of dollars in life negotiation volume and the property of Coindesk, Bullish has the infrastructure to justify its evaluation of $ 5.4 billion. But the post-components of Circle’s post-complaint-or to avoid the post-deputy volatility of Etoro will be a challenge.

The hybrid model of exchange, mixing centralized security with the DEFI protocols, calls for prudent institutions on purely decentralized platforms. However, it faces strong competition from Coinbase, Kraken, and a growing range of Crypto public enterprises such as Bitgo and Gemini, each pursuing their own public market strategy.

If the Haussier supports the momentum after the list of the list, he could cement the role of digital asset companies as traditional Wall Street players. But if he stumbles, the skeptics will wonder if the current Introduction Wave is fueled by a lasting request or a short -lived media. One thing is clear: with the flourishing circle, the adaptation Etoro and Haussier now in the mixture, the era of the crypto of the legitimacy of the public market is firmly in progress.