Bullish IPO Climbs 60% to $990M as Wall Street Backs Crypto

- Bullish upscales IPO target to $990M as BlackRock backs deal. - Wall Street giants JPMorgan, Jefferies, and Citi lead IPO. On August 11, 2025 (UTC), cryptocurrency exchange operator Bullish raised its Initial Public Offering (IPO) target to $990 million amid surging institutional interest. The revised offering, led by JPMorgan, Jefferies, and Citigroup, projects a market valuation of up to $4.82 billion, which is a 60% increase from its previous $629.3 million goal. The offering includes 30 million shares priced between $32 and $33, an increase from the initial range of $28 to $31. Investor enthusiasm is evident, as subsidiaries of BlackRock and ARK Investment Management have expressed intent to purchase up to $200 million worth of shares in the offering. In addition, Bullish, which owns the cryptocurrency publication CoinDesk, plans to list its shares on the New York Stock Exchange under the ticker symbol "BLSH." This development comes after Bullish withdrew its prior attempt to go public via a $9 billion SPAC merger in 2022. The decision to upscale its IPO pricing underscores the growing adoption of digital assets by traditional financial institutions and highlights the strengthening ties between Wall Street and the crypto sector.