Bullish (BLSH), a crypto exchange, had a successful IPO at $37 per share, raising $1.1 billion and exceeding expectations. Shares soared to $118 on debut, resulting in a market cap of $10 billion. BLSH focuses on institutional-grade crypto trading, with analysts seeing potential strength in this approach.

Financial disclosures show rapid growth and volatility for Bullish, swinging from profit to loss in different quarters. Digital asset sales have increased significantly, reaching $80.2 billion in the first quarter of 2025. The company’s focus on institutional-grade platforms has attracted elite investors like BlackRock and ARK Invest.

Cathie Wood’s ARK Invest purchased 2.53 million shares of Bullish post-IPO, highlighting strong institutional interest. Analysts view Bullish as an innovative player in the market, but caution is advised due to its high valuation. The company’s orientation towards institutional investors may lead to more stable revenue streams compared to retail-focused platforms.

Read more at Yahoo Finance: Bullish Soared on Its First Trading Day. Should You Buy BLSH Stock?