Updated Aug 13, 2025 - Business

Bullish shares pop in NYSE debut

Pete Gannon

Group of smiling people raising fists in celebration on the New York Stock Exchange floor, with CNBC and NYSE signs visible above. The atmosphere is lively and positive. — Bullish CEO Tom Farley, left, and co-founder and chairman Brendan Blumer, celebrating the company's IPO Wednesday at the New York Stock Exchange. Photo: Michael Nagle/Bloomberg via Getty Images

Bullish's stock more than doubled as it opened trading Wednesday, a day after the crypto exchange operator raised $1.11 billion in an IPO at $37 per share.

Why it matters: It's the latest IPO to come hot out of the gate, and another win for the crypto sector after a long lull in public listings.

Driving the news: Bullish shares opened at $90 on the New York Stock Exchange just after 1 pm ET, 143% above its IPO price.

Trading was halted shortly after as the stock rose above $103. As of 1:35 pm, it was trading back near $93.

Flashback: Bullish initially sought to raise $629 million by offering 20.3 million shares priced between $28 and $31 each.

It lifted its IPO range earlier this week, offering 30 million shares priced between $32 and $33 apiece.

Zoom out: Bullish is led by former NYSE President Tom Farley, and in addition to operating a crypto exchange, owns the crypto publication CoinDesk.

Editor's note: This is a breaking story. Check back for updates.

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Bullish shares pop in NYSE debut

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