The Bullish IPO shook Wall Street this week, opening at a stunning $90 per share, far above the expected $37 offering price. With investors closely watching, the crypto exchange’s debut sent a clear signal that confidence in digital assets remains strong, even in a volatile market. The Bullish share price climbed nearly 90% right out of the gate, leading to one of the most talked-about listings of 2025. In a single trading day, Bullish became one of the most valuable crypto exchanges ever listed in the U.S.
As trading opened, Bullish stock briefly surged even higher, hitting an intraday high of $118 before settling just above $92 by market close. With momentum like this, the debut didn’t just meet expectations, it demolished them. The buzz around Bullish’s market entrance sparked conversations not only in the crypto space but also across traditional financial sectors. With this showing, the Bullish IPO quickly positioned itself as a key moment in crypto’s mainstream rise.
$1.1 Billion Raised and a $10 Billion Valuation
By the end of its first day of trading, Bullish had raised a massive $1.1 billion through its IPO, beating previous forecasts and making headlines across global financial media. The company’s public offering, referred to widely as the Bullish $1.1B IPO, was upsized due to investor enthusiasm, expanding from 20.3 million to 30 million shares. This strong demand showed just how eager institutional and retail investors were to get a stake in what many see as the next big name in digital asset trading.
Opening at $90, the Bullish opens at $90 headline quickly began trending, with traders and analysts trying to make sense of the massive valuation leap. At its IPO price of $37, Bullish’s implied valuation was just over $5 billion. But with the first-day surge in Bullish share prices, the company’s value more than doubled, reaching above the $10 billion mark. By closing time, Bullish had officially entered the elite tier of publicly traded fintech companies, joining the ranks of major players like Coinbase but with far stronger debut momentum.
A Defining Moment for Crypto and Public Markets
The strong Bullish stock performance will likely encourage other crypto exchanges and Web3 companies to follow suit, seeing a clear path to raising capital and scaling globally. This debut also reflects a broader shift in how financial markets view crypto infrastructure companies. Rather than being considered high-risk or fringe players, companies like Bullish are now seen as serious contenders for long-term growth.
The fact that Bullish’s share price held steady even after a sharp rise shows that the market believes in its fundamentals, not just the hype. For investors looking for exposure to digital assets through regulated avenues, the Bullish stock is quickly becoming one of the more attractive options.
Even though the stock saw some intraday volatility, it managed to close with impressive gains, avoiding the kind of dramatic sell-offs that have hit other recent IPOs. This strong close reinforces the message that Bullish isn’t just a short-term play; it’s a long-term bet on the future of digital asset infrastructure. As more financial institutions warm up to crypto and as regulations become clearer, Bullish is in a strong position to capitalize on market momentum.
What to Watch in the Weeks Ahead
While the Bullish IPO marks an incredible start, the real test lies in the company’s ability to maintain growth, build market share, and remain transparent as a publicly listed firm. Investors will now be watching closely to see how Bullish performs over its next few quarters. Will the revenue live up to the hype? Can the platform continue to attract institutional volume? These are the questions that will shape the future of Bullish stock and its long-term valuation.
Still, the message is clear: Bullish has arrived and it’s not going anywhere. From raising $1.1 billion in capital to seeing its shares skyrocket nearly 90% in a single day, the Bullish IPO is one of 2025’s biggest financial stories. And it may just be the spark that lights a new wave of crypto companies going public.
