Crypto IPO: A Most Fortunate Venture?

It appears that Bullish, a company dealing in those curious digital assets, has made a most audacious declaration! They are, with considerable flourish, seeking entry into the esteemed New York Stock Exchange. One might almost say, a return, considering a previous, less successful attempt. 🤭

Bullish’s Second Waltz with the Public Markets

The firm, residing in the rather distant Cayman Islands—a location one suspects is chosen for reasons beyond mere geographical convenience—has formally presented its intentions to the Securities and Exchange Commission. Their ambition? To trade under the rather unwieldy ticker symbol ‘BLSH.’ One trusts the gentlemen involved have considered the potential for confusion.

“Bullish has applied to list its ordinary shares on the New York Stock Exchange under the ticker symbol ‘BLSH.’”

As yet, the precise number of shares and their price remain shrouded in a delightful mystery, though one can scarcely imagine it to be a trifling sum. Being designated a “foreign private issuer” seems rather clever, permitting a degree of discretion hitherto unavailable. The entire affair, naturally, hinges upon the whims of the market and the willingness of underwriters—who, it is noted, possess a most convenient 30-day option to acquire more shares, should the fancy strike them. 🧐

One recalls a previous endeavour of this nature in the year 2021, a union with a ‘Special Purpose Acquisition Company’ – a rather convoluted arrangement—which, alas, proved short-lived. The blame, it seems, was laid upon the fickle nature of the crypto markets (those wildly fluctuating fortunes!), increased governmental observation, and a general reluctance amongst investors to partake in what some deemed “speculative assets.” Still, Bullish perseveres, emboldened by the actions of Gemini and Grayscale, who, too, are seeking the SEC’s favour. Bless their ambitious hearts! 💪

The support of Mr. Peter Thiel, a gentleman of considerable means and reputation, is, of course, a most agreeable circumstance. His endorsement suggests a certain degree of confidence, though one should always regard the pronouncements of wealthy individuals with a degree of prudent skepticism. 😉

Bullish, it is stated, operates with a semblance of legality, boasting licenses in Germany, Hong Kong, and Gibraltar – locations chosen, no doubt, for their progressive views on commerce. The platform, combining elements of automated trading and a more traditional order book, caters to those discerning clients known as “institutional investors.” Their Hong Kong subsidiaries appear to handle rather important tasks, such as safeguarding assets, writing clever code, and ensuring compliance with regulations. Thankfully, they profess to keep entirely clear of mainland China and its particular brand of oversight. One trusts they mean it.

2025-07-20 05:57

Bullish’s Second Waltz with the Public Markets

Read More