This marks a notable shift from its earlier proposal, which included the sale of 20.3 million shares at a lower price range of $28 to $31, with a valuation goal of $4.2 billion.
Once the new offering is completed, the crypto exchange’s stock will be traded on the New York Stock Exchange under the ticker symbol “BLSH.”
As Bullish prepares for its IPO, it joins a wave of crypto firms entering public markets, including Mike Novogratz’s Galaxy Digital, which recently uplisted to Nasdaq, and eToro, which has opened trading to the public.
Additionally, crypto custody startup BitGo and the Winklevoss-run Gemini crypto exchange have both confidentially filed for US listings, signaling a renewed interest in cryptocurrency investments under a more favorable regulatory environment in the US.
Amid these developments, the total cryptocurrency market capitalization hit a new record high of $4 trillion on Monday, with Bitcoin (BTC) once again surpassing the $120,000 threshold.
However, despite Monday’s early momentum, the total market cap has since retraced and stabilized at around $3.93 trillion.
Featured image from DALL-E, chart from TradingView.com
