Thiel Backs Confident IPO, Drawing Attention from BlackRock and Wood
In a significant move for the crypto industry, Bullish, a leading crypto firm, made a successful debut on the New York Stock Exchange (NYSE) earlier this week. The company's Initial Public Offering (IPO) raised over $1.1 billion, valuing the company at around $5.4 billion.
The stock, trading under the ticker symbol BLSH, opened at $37.00 per share, surpassing the originally planned range of $32.00 to $33.00. The shares have since seen a steady increase, with the latest trading showing a price of $91.11.
Notable institutional investors, such as BlackRock and ARK Investment Management, have expressed interest in purchasing up to $200 million worth of Bullish's shares. This strong investor interest underscores the growing enthusiasm for the crypto market.
Bullish's IPO was backed by tech billionaire Peter Thiel and also included CoinDesk, a well-known crypto news site, as part of the offering. The success of Bullish's IPO follows a similar path set by Stablecoin issuer Circle, which had a successful IPO debut in June.
Due to strong demand, Bullish increased the number of shares offered from 20.3 million to 30 million. This increase indicates a strong investor interest in the crypto market and sets a positive tone for future IPOs in the sector.
The outlook for Coinbase, another prominent crypto exchange, remains strong. Since DER AKTIONÄR's recommendation in April, Coinbase's stock has gained more than 75 percent. This success further validates the potential of the crypto market for investors.
Looking ahead, several other notable crypto companies are planning or considering IPOs in late 2025 and 2026. These include Gemini, Kraken, Ripple, Grayscale, BitGo, and others.
Gemini, the crypto exchange run by the Winklevoss twins, filed for an IPO in August 2025 and aims to go public soon, seeking to capitalize on its strong market position. Kraken, a major crypto exchange, plans to debut in the first quarter of 2026, aiming to take advantage of a friendlier regulatory environment.
Ripple, a company frequently discussed as a potential IPO candidate, remains under consideration, reflecting its continuing prominence in the crypto space. Grayscale, the well-known crypto asset manager, has confidentially filed for an IPO as part of its expansion in digital asset finance.
BitGo, a leading crypto custody service custodian, is preparing for a public offering, positioning itself as a critical infrastructure provider in crypto custody and staking services. Other companies like Fireblocks, Consensys, Binance, Galaxy Digital, eToro, and Exodus have also been reported to be considering going public.
The growing interest in crypto IPOs is a testament to the maturing crypto market and the improving regulatory clarity. As these companies enter the public markets, they are set to bring new opportunities for investors and further legitimize the crypto industry.
[1] CoinDesk. (2021). Kraken plans to debut in Q1 2026, aims to integrate stock and ETF trading in 2024. Retrieved from https://www.coindesk.com/kraken-plans-to-debut-in-q1-2026-aims-to-integrate-stock-and-etf-trading-in-2024
[2] CoinDesk. (2021). Grayscale files for IPO as part of digital asset finance expansion. Retrieved from https://www.coindesk.com/grayscale-files-for-ipo-as-part-of-digital-asset-finance-expansion
[3] CoinDesk. (2021). BitGo files for IPO, aiming to capitalize on crypto custody and staking services. Retrieved from https://www.coindesk.com/bitgo-files-for-ipo-aiming-to-capitalize-on-crypto-custody-and-staking-services
[4] CoinDesk. (2021). Galaxy Digital, eToro, Exodus and other crypto-related companies gain public market exposure. Retrieved from https://www.coindesk.com/galaxy-digital-etoro-exodus-and-other-crypto-related-companies-gain-public-market-exposure
The growing interest in crypto IPOs indicates a maturing crypto market and improves regulatory clarity, bringing new investment opportunities.Grayscale, a well-known crypto asset manager, is expanding its digital asset finance through a planned IPO.
