The "IPO temperature" for Bullish

The "IPO temperature" for Bullish, a cryptocurrency exchange, appears warm to hot, driven by a favorable crypto market environment and regulatory clarity. Bullish filed for a U.S. IPO on July 18, 2025, aiming to raise up to $629.3 million by offering 20.3 million shares priced between $28 and $31, targeting a valuation of up to $4.23 billion. The IPO is set to list on the NYSE under the ticker "BLSH" with an expected debut in mid-to-late August 2025.