
Uptrend IPO Soars Upon Launch: Could BLSH Be the Top Crypto Stock to Invest In?
On the previous day, Bullish, a crypto asset exchange supported by billionaire Peter Thiel, one of the co-founders of PayPal, made its debut on the NYSE with the ticker symbol BLSH. Following the success of the Circle IPO, this remarkable performance was anticipated. BLSH surged more than twofold mere hours after trading commenced, solidifying its status as a top crypto stock to consider.
Is Bullish the Top Crypto Stock to Consider? BLSH Surges After NYSE Listing
During its IPO, the BLSH crypto stock traded at $37 per share. This price was significantly higher than the anticipated $32 to $33 range and the earlier forecast of $28 to $31. The stock kicked off at $90 before skyrocketing to $118 and closing at $68. Even at this closing price, BLSH investors had an 83% gain from the IPO price. Those who sold at the highs realized over 200% in net profit. At its zenith, Bullish had a valuation exceeding $17 billion.
(Source: Google Finance)
The striking launch of Bullish, which teamed up with rising Bitcoin and Ethereum values, was driven by favorable regulatory developments in the United States. Moreover, institutional investors are increasingly diversifying their portfolios to include crypto assets. This confidence is propelling altcoins and designating some as the next 1000X cryptos to consider.
Significantly, the rise of BLSH shares parallels the explosive growth of Circle’s CIRCL stock and the achievements of MicroStrategy’s MSTR and SharpLink’s SBET stocks. Collectively, these publicly traded firms hold billions in BTC and ETH, making them some of the prime crypto stocks available for purchase.
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What You Should Know About the Bullish IPO
Uptrend is the parent corporation of CoinDesk and runs a crypto asset exchange.
Founded by Brendan Blumer in 2021, Blumer was part of the team responsible for the record-setting, year-long $4 billion EOS ICO in 2017.
The crypto trading network is currently steered by Thomas Farley, the former president of the NYSE.
Optimistic stands out as it operates an institutional-centric crypto exchange that targets over 50 countries, excluding the United States.
The Bullish IPO kicked off with 30 million shares, an increase from the original 20.3 million, responding to formidable crypto holder interest after a 20X oversubscription.
The remarkable performance of this Bullish IPO allowed the company to raise $1.1 billion, strongly reflecting robust buyer interest, further strengthened by commitments from BlackRock, the world’s foremost asset manager, along with ARK Investment Management. These asset managers each pledged up to $200 million at the IPO price.
With the surge in BLSH stock prices, Blumer, who possesses 30.1% of the exchange, witnessed his stake increase to $2.8 billion. Conversely, Kokuei Yuan, a board member holding 26.7% of the company, saw his share rise to $2.5 billion. Meanwhile, Farley, controlling 3.8% of the firm, experienced a boost to $355 million in value.
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What Is Driving the Optimistic Stock Surge?
Multiple factors contributed to the rise of BLSH, reinforcing its status as the top crypto stock to invest in.
Firstly, the Optimistic IPO timing is impeccable, coinciding with a crypto surge as Bitcoin and ETH enthusiasts aim for new all-time highs.
Earlier today, Bitcoin climbed to as high as $124,700, reaching fresh all-time highs. Simultaneously, ETH is on the verge of breaking $5,000, achieving new all-time highs and surpassing its 2021 peaks. This breakout has also buoyed leading Solana meme coins, such as TRUMP.
Beyond the well-timed launch, the enactment of the GENIUS Act in July 2025 enabled clarity that motivates institutions to examine and invest in some of the finest cryptos to acquire. Specifically, the GENIUS Act offers consumer protections for stablecoins, thereby minimizing uncertainty for the Bullish exchange and its stablecoin assets.
Optimistic is not new to the crypto scene. The founder’s previous involvement with EOS and the success of the EOS ICO set a precedent. However, the current IPO comes after the investment community has witnessed the triumph of the Circle IPO in June, where CIRCL jumped by over 150% upon its NYSE listing, establishing a high benchmark for crypto stocks. Furthermore, the BLSH stock is backed by prominent players like BlackRock and ARK Investment, who are extensively active in the crypto space, with BlackRock being the largest issuer of spot Ethereum and Bitcoin ETFs.
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Uptrend IPO: Is BLSH the Leading Crypto Stock to Invest In?
- Bullish IPO a remarkable triumph
- BLSH shares skyrocketed to over $110 shortly after trading commenced
- Institutional investment flowing into crypto, boosting overall sentiment
- Will Ethereum and BTC surge to new database highs
The article Optimistic IPO Blasts On Launch: Is BLSH the Best Crypto Stock to Buy? first appeared on 99Bitcoins.