Crypto Exchange Bullish actions (BLsh) He shot at $ 102 in initial operations on Wednesday, his first day of action in the New York Stock Exchange.
The company set its initial public offer (IPO) At $ 37 per share, above the expected range of $ 32 to $ 33. That price valued the exchange of cryptography based on Cayman Island with a total market value of $ 5.4 billion.
Bullish, who is the owner of Coindesk, at the beginning of this week expanded the amount of shares he sold in his opi to 20.3 million, since the appetite of investors turned out to be greater than expected. Both Blackrock and Ark Investment Management had expressed interest in buying up to $ 200 million in shares.
“The last section of cryptography growth in the last 10 years was basically all retail and, if you look now, the institutional wave has begun, it is here, it is a matter of how big it will be,” said the CEO of Bullish, Tom Farley, in an interview with CNBC.
Unlike exchanges focused on retail trade, such as Coinbase or Kraken, it points to institutional investors seeking exposure to digital assets while depending on the supervision and safeguards of a centralized platform.
The exchange saw a negotiation volume of more than $ 1.25 billion as of March 31, since its launch in 2021, according to a presentation.
“The increase in the OPI of $ 1.1 billion bullish reflects a growing institutional confidence in the cryptographic exchange sector, promoted by a favorable regulatory environment under the Trump administration and the increase in Bitcoin beyond the $ 100,000,” said Ryan Lee, an analyst chief at Bitget Research.
“This success, together with the strong performance of the Oversight of Circle, points out that institutional investors are increasingly seeing centralized exchanges as long -term viable investments. However, sustained trust will depend on regulatory clarity and market stability,” he said.
The company’s debut occurs at a time of booming interest in crypto -related projects, specifically from Wall Street, as US regulators are approaching a regulatory framework for space, which allows participants to participate in a safe way.
