TechFlow, August 4 — According to Axios, digital asset exchange Bullish and its subsidiary CoinDesk have filed an initial public offering (IPO) application with the U.S. Securities and Exchange Commission (SEC). The filing indicates that Bullish plans to issue 20.3 million shares at a price range of $28–$31 per share, raising up to $629 million, which would value the company at approximately $4.2 billion.
Bullish operates in spot trading, leveraged trading, and derivatives trading of digital assets, and also provides liquidity services for stablecoin issuers. Financial data shows that the company recorded $80.2 million in digital asset sales during the first quarter of 2025, along with a net loss of $349 million. Bullish previously acquired cryptocurrency media platform CoinDesk for $72.6 million in 2023.
