Bullish, a global digital asset platform backed by Peter Thiel, announced the pricing of its upsized IPO of 30,000,000 ordinary shares at a public offering price of $37.00 per share last week.
,Trading on the New York Stock Exchange under the ticker symbol BLSH, JP Morgan and Jefferies are acting as lead book-running managers of the offering and Citigroup acting as joint book-running manager.
,Alongside this, Cantor, Deutsche Bank Securities, and Societe Generale are acting as additional book-running managers, while Canaccord Genuity, Keefe, Bruyette & Woods, A Stifel Company, Oppenheimer & Co and Rosenblatt are acting as co-managers.
,Bullish president Chris Tyrer told Reuters: “We’ve gone public today, and there’s a slew of others that are going to follow us, and I think that is net beneficial, because it gives people more options in terms of how they access this asset class.”
,Reuters also reported that Bullish is on the precipice of concluding a two-year process to obtain a virtual currency license known as a BitLicense in New York, which would allow the company to operate in the state.
,BitLicenses require companies to comply with KYC, AML and capital requirements. Bullish also plans to convert a significant portion of the IPO proceeds to stablecoins.
,This news follows US President Donald Trump signing the Genius Act, a regulation for stablecoins.
,Further, with Bullish targeting institutional clients, their cryptocurrency holdings are likely to increase in lieu of the White House order allowing alternative investments in 401(k) retirement plans.
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