CoinDesk owner Bullish ups IPO goal to $1B as Wall Street backs crypto push

The IPO is led by Wall Street heavyweights JPMorgan, Jefferies and Citigroup, SEC filings show.

Digital asset exchange operator Bullish raised the target valuation for its initial public offering by almost 60% to potentially $990 million, a move that may reflect growing investor appetite amid renewed momentum in crypto-related stocks.

Bullish now plans to sell 30 million shares at $32 to $33 apiece, Bloomberg reported Monday, citing recent regulatory filings with the US Securities and Exchange Commission (SEC). That’s nearly 60% higher than the upper range of its earlier target.

If the IPO meets expectations, Bullish would debut with a market capitalization of about $4.8 billion — up from the $4.2 billion goal set in early August.

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