IPO Market & Bullish - The IPO market is heating up, with crypto exchange Bullish set to price its IPO [1] - Bullish aims to raise $990 million by offering 30 million shares priced between $32 and $33, giving it a total market value of $4.8 billion [1] - Demand for the Bullish IPO has grown, with the company originally marketing about 20 million shares in a proposed range that began at $28 a share [2] - BlackRock and Kathy Wood's ARK have indicated interest in buying up to $200 million of the shares [3] - Bullish is making its second attempt at going public, looking to take advantage of the previous administration's crypto-friendly stance [3] Bullish Company Overview - Bullish launched in 2021 and is a crypto exchange and the parent of the crypto news and data site CoinDesk [4] - The exchange is headquartered in the Cayman Islands and focused on institutional investors, blending DeFi offerings with centralized security [4] - Bullish plans to convert a significant portion of the IPO proceeds to US dollar-denominated stablecoins [6] Crypto Market Trends - Stablecoins continue to be a hot topic, with increasing interest from brands and big institutions [7] - Circle launched a proprietary blockchain to further the stablecoin ecosystem [7] - ETH hit a new December 2021 high, inching closer to its record, and is the backbone of a lot of the stablecoin activity [8]
Bullish to offer shares between $32-$33, going public Wednesday
CNBC Televisionยท2025-08-12 21:20