TechFlow, July 19 — According to CNBC, Bullish, a cryptocurrency exchange backed by former PayPal CEO and operated by Block.one, the parent company of EOS (now Vaulta), filed for an IPO in the U.S. on Friday, planning to list on the New York Stock Exchange under the ticker symbol "BLSH".
The IPO filing stated that as of March 31, Bullish had surpassed $1.25 trillion in total trading volume since its launch. In the first quarter of 2025, the Bullish exchange averaged over $2.5 billion in daily trading volume. Key competitors include Binance, Coinbase, and Kraken. In documents submitted to the U.S. Securities and Exchange Commission, Bullish said part of its mission is to "drive the adoption of stablecoins, digital assets, and blockchain technology".
Bullish is a spin-off from Block.one, with initial investments from Thiel's Founders Fund and Thiel Capital, as well as Nomura, Mike Novogratz, and others. Additionally, Bullish acquired the cryptocurrency news site CoinDesk in 2023.
