Peter Thiel’s Bullish Crypto Exchange Files for NYSE IPO

• Bullish files NYSE IPO, backed by Peter Thiel and major investors.

• Crypto exchange Bullish hits $1.25 trillion trading volume since its launch.

• Bullish IPO aims to attract big investors as crypto regulation strengthens.

Bullish, a crypto exchange backed by billionaire Peter Thiel, has filed for an IPO with the U.S. Securities and Exchange Commission (SEC). The company plans to list on the New York Stock Exchange (NYSE) under the ticker symbol “BLSH.” This is a sign of increased confidence in the public market of digital asset platforms.

Bullish Reaches $1.25 Trillion in Trading Volume

According to Bloomberg, Bullish is a spin-off of Block.one and has received major backers. Investors such as Nomura and crypto investor Mike Novogratz are the major investors alongside Founders Fund and Thiel Capital. The company also owns CoinDesk, a renowned cryptocurrency news media outlet that it acquired in 2023. The acquisition has enabled Bullish to expand its presence in the cryptocurrency sector.

This firm is located in the Cayman Islands. It has established a reputation in the fast-developing crypto exchange market. The filing reveals that Bullish has processed over 1.25 trillion trading volume since its inception. This milestone underlines the size of the company and its popularity among professional and institutional traders.

Bullish CEO Tom Farley has extensive experience in finance. He is a Wall Street veteran and a former president of the New York Stock Exchange. Bullish is to play a significant role in the crypto exchange under the leadership of Bullish.

The filing indicates that there are some financial difficulties despite the large plans. Bullish has had a net loss of approximately $349 million during the first quarter of this year. This was against $80 million in digital-asset sales. Comparatively, one year ago, Bullish had a profit of 105 million dollars on almost similar sales. This volatility demonstrates how unstable the crypto market is.

However, the company chooses to go public when crypto is taking a new life in U.S. markets. Other crypto companies are extracting public markets too this year. To give an example, the stock of stablecoin issuer Circle increased more than sevenfold following its IPO in June.

Bullish Hopes IPO Will Attract Big Investors

Meanwhile, In May, Galaxy Digital, founded by Mike Novogratz, transferred its listing to the Nasdaq after trading on the Toronto Stock Exchange. Gemini is another crypto exchange, created by Cameron and Tyler Winklevoss, which filed confidentially in June to become a U.S. IPO. The moves indicate that digital asset companies have once more become interesting to investors.

To top it all, President Donald Trump signed the GENIUS Act into law on Friday. The new law establishes minimum protections for the consumers of stablecoins. Stablecoins are cryptocurrencies that are backed by other assets such as the U.S. dollar. Their goal is to maintain the price steady and lessen the extreme fluctuations experienced by other cryptocurrencies such as Bitcoin or Ethereum. This move is interpreted by many as an indication that the government of the U.S. is interested in introducing more transparent regulations to the crypto industry.

Bullish intends to take advantage of this momentum and new regulatory transparency. The company states that its new listing will provide it with additional capital to grow its platform and attract more institutional investors. The support of such financial giants as Thiel, Novogratz, and Nomura may also provide the IPO with additional credibility on Wall Street.

Bullish IPO may be a milestone in the industry as crypto keeps expanding. In case of success, it can motivate more digital asset companies to become publicly traded and introduce crypto into the mainstream financial system.