Crypto exchange Bullish valued at nearly $13.2 billion in blowout NYSE debut

A person walks past a banner for Bullish, a cryptocurrency exchange operator, during the company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., August 13, 2025. REUTERS/Brendan McDermid

(Reuters) -Cryptocurrency exchange operator Bullish was valued at about $13.16 billion after its shares more than doubled in their NYSE debut on Wednesday, underscoring investor confidence in the sector and lifting prospects for future U.S. listings by other digital asset firms.

The parent of crypto news website CoinDesk raised $1.11 billion in its IPO, valuing the company at $5.4 billion — another sign of mainstream adoption in a market that recently topped $4 trillion.