Bullish Stock Surges 200% on Launch, Driving Investor Interest

Crypto exchange Bullish (NYSE: BLSH) made a dramatic market debut, soaring 200% above its IPO price of $37 to briefly touch $118. Trading volume hit 37.8 million shares as investors flocked to the stock, buoyed by a favorable U.S. regulatory climate and institutional crypto adoption trends.

Recent regulatory wins under a pro-crypto administration, including progress toward a New York BitLicense, strengthened confidence. The company plans to allocate IPO proceeds to stablecoins—a sector thriving under the Genius Act—while targeting institutional clients for recurring revenue streams.

Bitcoin's record highs and corporate treasury adoption further amplified sector momentum. "Bullish came out with an attractive initial valuation, and investors responded by aggressively bidding it up," noted Jeff Zell of IPO Boutique.