Crypto Exchange Bullish Surges on Stock Market Debut

Investors are feeling optimistic about Bullish, the recently debuted cryptocurrency exchange. Backed by Peter Thiel, its stock soared on the New York Stock Exchange, officially starting strong and exceeding the expected IPO price range.

The initial share price was set at $37, which was higher than the anticipated range of $32-$33. Soon after trading began, the stock—which trades under the ticker BLSH—climbed a remarkable 218%, reaching an impressive high of $118 before adjusting somewhat. At peak trading, the company’s market valuation jumped to about $13 billion, up from an initial valuation of $5.4 billion at the time of the IPO.

This explosive first-day performance reflects a broader trend seen with recent IPOs, where companies like Figma also enjoyed a substantial rally on their debut. The activity underscores a clear appetite among investors for new ventures in the tech space, especially following the latest wave of enthusiasm for cryptocurrency-related stocks.

Another example in this climate is Circle Internet Group. Following Donald Trump’s interest in cryptocurrencies and supportive regulations, stocks have shown a promising upward trajectory. Notably, CoreWeave has also seen more than a 200% increase since its launch in March 2025.

Bullish’s launch is noteworthy as it stands among a small number of crypto IPOs that have materialized this year, with others including Etro and Galaxy Digital making headlines in the cryptocurrency exchange space. In fact, Galaxy recently transitioned to the Nasdaq.