Bullish Crypto Exchange Soars 143% in NYSE Debut, Signaling Institutional Crypto Demand

Bullish, the institutional-focused cryptocurrency exchange, made a spectacular debut on the NYSE, opening at $90 per share - a 143% premium to its $37 IPO price. The stock briefly touched $118 before settling at $68, still delivering an 83% first-day gain and valuing the company at $5.4 billion pre-trading.

The explosive reception underscores renewed institutional appetite for crypto assets under the Trump administration's pro-digital asset stance. Led by former NYSE president Tom Farley and backed by Peter Thiel, Bullish uniquely blends DeFi architecture with traditional market structure. "The institutional wave has begun," Farley told CNBC, noting retail-driven growth is giving way to professional participation.

Notably, Bullish twice raised its IPO range before launch, yet still opened far above even adjusted expectations. The offering's success suggests DEEP capital pools are ready to embrace compliant crypto ventures, potentially heralding a new phase of maturation for digital asset markets.