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Crypto Exchange Bullish Files for U.S. IPO
The company plans a NYSE listing under the ticker “BLSH.”
Jul 19, 2025, 1:15 a.m.
What to know:
- Bullish plans to list on the NYSE under the ticker “BLSH” and expand in the U.S., UK and Asia, according to a filing.
- The company recorded $80M in net income in 2024, driven by trading and data services, but reported a net loss of $349 million for the three months ended March 31, 2025.
Crypto exchange Bullish has filed for a public listing in the United States, according to a new F-1 registration filing.
The company, which is owned by Bullish Global (the parent company of CoinDesk), plans to trade on the New York Stock Exchange under the ticker “BLSH.”
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Bullish, headquartered in the Cayman Islands, operates an institutional trading platform offering spot and derivatives trading and liquidity services, according to the filing.
The exchange reported $80 million in net income in 2024 and claims over $1.9 billion in liquid assets, including cash, bitcoin, stablecoins and other digital assets, the filing said. It reported a net loss of $349 million for the three months ended on March 31, 2025, a contrast to the $104.8 million net profit it reported for the three-month period ending on March 31, 2024.
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Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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