The shares of Crypto-Ex-Exchange Bullish (BLSH) shot off the starting blocks on the New York Stock Exchange on Wednesday. The share opened at $ 102, almost three times as high as the introduction price of 37 dollars. This means that the company -based company is now appreciated at $ 5.4 billion.
Big question from institutional investors
Bullish, which is also the owner of news site Coindesk, raised the number of shares offered just before the IPO to 20.3 million due to the enormous interest. Big names such as BlackRock and Ark Invest were willing to put together up to $ 200 million in the Beursdebutant.
CEO Tom Farley sees a clear shift in the market: “Over the past ten years, the growth has mainly come from private investors. Now the institutional wave has started. The only question is: how big is it?”
Where stock markets such as Coinbase and Kraken mainly aim for the masses, Bullish focuses on large, professional parties who want to trade in a crypto in a regulated and safe environment. Since the launch in 2021, the platform has already processed more than 1.25 trillion dollars in trade volume.
Signal of trust in centralized exchanges
According to Ryan Lee from Bitget Research, the successful IPO is a clear sign that large investors have more confidence in centralized crypto-exchanges. He points to the favorable regulations under the Trump administration and the recent increase in Bitcoin (BTC) above $ 100,000 as important factors.
The strong IPO of Stablecoin publisher Circle also reinforces this sentiment. “But permanent trust depends on clear rules and stable markets,” warns Lee.
Bullish’s debut comes at a time when Wall Street is becoming more active in crypto, while the American supervisors are almost ready with a definitive regulatory framework for the sector.
Source: https://newsbit.nl/crypto-beurs-bullish-schiet-omhoog-bij-beursdebuut-koers-boven-100-dollar/
