Bullish IPO: Can Investors Stake a Claim Yet?

Explore opportunities to invest in the Bullish IPO as the date approaches. Bullish filed for an IPO on July 18th. Its public debut is expected to happen in mid-to-late August. 

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Recent Bullish News

07/18/2025: Bullish files to go public on NYSE
06/10/2025: Bullish files for Wall Street IPO
02/04/2025: Bullish Weighs IPO
07/12/2021: Block.one launches Bullish Global with $10B in funding
Older news…

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About Bullish

Bullish Global is a cryptocurrency exchange founded in 2021 by Block.one, the company behind the EOS.IO blockchain protocol. It is also the owner of the news website CoinDesk.

The company launched with $10 billion in capital contributed through digital assets and cash, with funding provided by prominent investors, most notably, Peter Thiel.

The platform offers a hybrid exchange model combining a traditional central limit order book (CLOB) with automated market making (AMM) with an institutional focus.

It aims to provide ample liquidity, tight spreads, and efficient price discovery. 

Bullish also supports margin and derivatives trading, while operating as a regulated, full-reserve exchange (holds 100% of customer deposits in reserve).

Deloitte provides audits to ensure transparency and compliance in the highly regulated and scrutinized emerging fintech industry. 

Interest in fintech IPOs is surging, with the success of Chime and Circle deals in recent memory, and Gemini and Kraken positioning to debut in the next six to twelve months. 

The company is headquartered in the Cayman Islands with global offices in New York, London, Gibraltar, Singapore, and other major financial hubs.

Terms

• Bullish IPO Date: Expected mid-to-late August 2025
• Stock Symbol: “BLSH”
• Exchange: NYSE
• Offering: TBD
• Raise: TBD
• Initial Price Range: TBD
• IPO Valuation: TBD
• Lead Underwriters: JPMorgan, Jefferies

Bullish F-1

Here’s the July 18th, 2025, PDF copy on the Bullish IPO filing. 

Get all the latest filings on the SEC website. 

Ownership

Bullish is a subsidiary of Block.one. The upcoming Bullish IPO will be a spinoff. 

Prominent venture capital and individual investors in Bullish include Founders Fund, Thiel Capital, Nomura, Mike Novogratz, Brendan Blumer (Block.one CEO), Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, and Galaxy Digital. 

Valuation

A Bullish valuation will be challenging to pin until the IPO terms are released in an amended F-1 filing. We expect to see the amended filing in mid-August. 

Bullish launched with $10 billion in funding and aimed to go public via a SPAC in 2021 at a $9 billion valuation. 

Though valuation data is scarce even after the F-1 filing became available, estimates range from $8 to $12 billion. 

IPO Potential

Bullish filed for an IPO on July 18th, 2025, preceded by reports of a confidential filing in June. 

The Bullish IPO date is now anticipated in mid-to-late August 2025. We’ll get a more accurate date when the company files an amended F-1 in the coming weeks. 

A previous attempt to SPAC failed in 2021-2022 as the IPO and SPAC markets froze due to market turmoil. 

How to Invest in Bullish Stock

Most individuals cannot own Bullish stock via pre-IPO investing platforms because of the SEC accreditation requirement. 

Furthermore, pre-IPO availability in Bullish equity is scarce. It will be challenging for most investors to acquire IPO shares when the Bullish IPO date arrives due to anticipated high demand. 

Therefore, the most likely way investors can own Bullish stock is to wait for the IPO and buy shares after it goes public.

But savvy pre-IPO investors may find opportunities to own the company before the IPO. 

Here are some potential options to own Bullish stock before, during, and after the IPO.

1. Participated in the Bullish IPO through a broker

When a company goes public, investors can sometimes buy the stock during the IPO at the IPO price. 

A handful of online brokers (like the ones listed below) allow investors to invest in IPOs for free and low minimums:

• TradeStation 
• Robinhood 
• SoFi Invest
• Webull

TradeStation is more established, having conducted more than 400 IPOs and secondary offerings via its partnership with Click Markets.

However, Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.

Monitor this list of the best brokers for IPO investing to learn more about IPO access for retail investors.

2. Access Bullish stock pre-IPO

Pre-IPO investment platforms offer private stock for purchase as employees or early investors seek to sell some of their shares before an IPO.

However, Bullish has not been available on secondary marketplaces. And as the Bullish IPO approaches, this option becomes more unlikely. 

3. Buy the stock after the Bullish IPO

Waiting for an IPO offers clearer financials after the first trading quarter, while pre-IPO investing lacks transparency for many retail investors.

High-demand companies may be overvalued at IPO, with shares priced near their peak, risking losses during market corrections.

Stock price dips can create entry points for long-term investors, but lockup expirations and earnings surprises may trigger price swings.

Patience is key, as the most innovative companies have the potential to outperform over time.

Frequently Asked Questions (FAQs)

Is Bullish Publicly Traded?

Not yet. Bullish is not publicly traded. But it intends to be in the near future. 

What is the Bullish Stock Price?

A public Bullish stock price does not exist. It’s a private company.

We expect to see an initial IPO price range in the coming weeks. 

What is the Bullish Stock Symbol?

The Bullish stock symbol is “BLSH”

Conclusion

As Bullish prepares for its debut on the NYSE, it enters the public markets with both significant capital backing and a unique product built for institutional-grade crypto trading.

Its hybrid exchange model, full-reserve structure, and focus on transparency are an attempt to restore credibility in a sector often clouded by volatility , regulatory headaches, and distrust.

Despite its crypto-celebrity pedigree and ambition, Bullish still has much to prove in a market where dominance is hard-won and customer trust is fragile.

The company’s failed 2021 SPAC attempt is a reminder that timing and execution are everything in public markets, particularly in the ever-evolving crypto space.

Ordinary investors eager to participate should proceed with caution. Conduct personalized due diligence before participating in the Bullish IPO.