Cryptocurrency trading operators and media companies are bullish planning to raise $568 million to $629 million in U.S. initial public offerings (IPOs), already receiving interest from major institutional investors.
Only a few weeks later Initial IPO Submissionbullish submitted Updated F-1 documentation With the Securities and Exchange Commission (SEC) outlined plans to issue 20.3 million shares, which could be valued at a price of up to $4.2 billion.
If the IPO is approved, bullish stocks can start trading as early as August 12.
The filing shows that investment accounts managed by subsidiaries of Blackrock and ARK Investment Management show interest in buying up to $200 million in stock at IPO prices.
The company intends to convert a portion of its IPO to USD-denominated Stablecoins, the document shows.
Bullish operates a digital asset platform tailored to institutional clients and is available in more than 50 jurisdictions, excluding the United States. The company expanded to encrypted media in November 2023 Get Coindesk from Digital Currency Group $72.6 million.
Coindesk is the world’s second-largest crypto media outlet for the reader base, with the bullish F-1 application reporting an average of 4.9 million unique audiences per month in 2024.
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Encryption IPO rises
Bullish is one of several crypto-centric companies that capture the public list. In July, the custodian of digital assets Bitgo Apply for Public Dedication in the United Statesalthough it does not disclose the number of shares or target valuations.
last week, Auxiliary device report The cryptocurrency exchange Kraken plans to raise $500 million through an IPO that values the company at about $15 billion, significantly higher than its previous valuation of about $11 billion.
Similar reports indicate Encryption exchange OKX It is also preparing for the US IPO after recently restarting its services in the country.
One of the most successful crypto stock products this year came from Stablecoin issuer Circle, whose market value increased by billions of dollars after its CRCL stock went public. Before publication, Circle proposes IPO target Nearly $900 million amid strong institutional demand.
There has been a surge in crypto IPO activity, with significant regulatory progress in the United States and increasing institutional adoption of digital assets.
Last month, U.S. President Donald Trump Signed the Genius ActThis is a key legislation in the law. Meanwhile, the House passed two additional bills targeting the market structure and took anti-CBDC measures before its August break.
https://www.youtube.com/watch?v=ry9mi57pbjs
Related: Encryption is no longer “Running from the Garage”: MEXC’s Tracy Jin on IPO BOOM
