Bullish Global, a prominent cryptocurrency exchange, has announced its initial public offering (IPO) price at $37 per share, exceeding initial expectations. This will be a big achievement for the company. It’s preparing for its first day of trading today on the Nasdaq after moving its listing from the Toronto Stock Exchange. The return of VanEck’s IPO would reportedly raise around $1.1 billion from the sale of 30 million shares.
Tom Farley, the new CEO of Bullish Global, shared thrilling information on the bullish company’s expected IPO. He highlighted these major changes in a recent interview on Bloomberg Television. The chat took place on Wednesday, February 19th, 2025. It was held at the Consensus Crypto Conference in Hong Kong, China. Farley punctuated the company’s remarkable growth since launching in 2021. At the time of writing, Bullish has supported over $1.25 trillion in total trading volume and counting!
This IPO represents Bullish’s second attempt to go public in under four years. It serves to underscore the predatory and hostile landscape in which the crypto market currently operates. In the past, other companies in the space have experienced mixed results in their IPOs. For example, one of the largest stablecoin issuers, Circle, made a splashy public debut via SPAC in June, raising more than $1 billion in the process. eToro was recently valued at $5.4 billion after going public via an SPAC merger. This remarkable valuation creates a keystone benchmark for other firms looking to break into the public markets.
Bullish is doing the smart thing by moving to Nasdaq. This move places them among other major institutional players in the cryptocurrency world, such as Mike Novogratz’s Galaxy Digital, which trades on their exchange. This strategic move is part of Bullish’s overall strategy to increase legitimacy while making Bullish more visible and credible in today’s fast-paced financial ecosystem.
Though Bullish has yet to launch, Farley expressed a sense of optimism around the future of his company and the greater cryptocurrency ecosystem throughout the interview. He understood the difficult road in front of them. The company is obviously hoping to leverage its new, innovative platform to attract more users and investors.