spot volume worth $647 billion<\/a> in the twelve months to Q1. Its first-quarter volume rose by 78%.<\/p>\nThe company has also become a major player in the perpetual futures industry, handling $111 billion. It is seeking to enter the growing options market, where companies like Binance and Deribit dominate.<\/p>\n
Bullish also owns CoinDesk, a company that expands beyond one of the crypto industry\u2019s largest website. CoinDesk runs Consensus, one of the biggest events in the crypto industry, and operates an index business with over $41 billion in assets under management.<\/p>\n
<\/p>\n
Bullish is also a big holder of Bitcoin (BTC) in its balance sheet. It ended the quarter with over 24,000 coins, meaning that it will become the fifth biggest publicly-traded holder after Strategy, MARA, XXI, and BSTC.\u00a0<\/p>\n
Bullish\u2019s business is growing, with its annual revenue in 2024 reaching $250 million, up from $116 million a year earlier.<\/p>\n
Will BLSH stock be a good investment?<\/h2>\n
The Bullish IPO is coming at a time when there is strong appetite for listings in the United States. With its IPO oversubscribed, there is a likelihood that its stock will rise as investors rush to buy.<\/p>\n
Demand will also be supported by the broader strength in the crypto market, with Bitcoin hovering near its all-time high and Ethereum (ETH) nearing the resistance at $4,500.\u00a0<\/p>\n
US crypto regulations are also encouraging, with Donald Trump signing the GENIUS Act <\/strong>into law and an executive order allowing retirement funds to invest in cryptocurrencies.<\/p>\nCircle\u2019s stock price surged after its IPO, signaling potential demand for Bullish. Other companies that launched IPOs this year, such as CoreWeave and WeBull, also jumped initially. Therefore, there is a likelihood that the BLSH stock price will rise after going public.<\/p>\n
The risk, however, is that gains may be short-lived. Circle\u2019s stock has already fallen by double digits from its all-time high as the hype faded, and WeBull\u2019s stock has dropped from $61 to $14.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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