Bullish, which operates a digital exchange for cryptocurrency, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Bullish is an institutionally focused global digital asset platform that provides market infrastructure and information services. Operating under the brands "Bullish" and "CoinDesk," the company provides several distinct but complementary services that span the digital assets industry: Trading and Liquidity Infrastructure (branded as Bullish Exchange), and Information Services (branded as CoinDesk), which includes Indices, Data, and Insights. Bullish Exchange's total trading volume since launch has exceeded $1.25 trillion as of March 31, 2025.
The Cayman Islands-based company was founded in 2020 and plans to list on the NYSE under the symbol BLSH. Bullish filed confidentially on August 30, 2024. J.P. Morgan, Jefferies, Citi, Cantor Fitzgerald, Deutsche Bank, and Societe Generale are the joint bookrunners on the deal. No pricing terms were disclosed.
