Crypto firm Bullish, backed by investor Peter Thiel and operating under Block.one, has confidentially filed for an IPO with the U.S. SEC, aiming to tap into renewed digital asset interest under the current U.S. administration. The company is headquartered in the United States and operates in the crypto trading and blockchain infrastructure sector.
Bullish, a cryptocurrency exchange backed by tech billionaire Peter Thiel and a unit of blockchain software firm Block.one, has confidentially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC), according to a report published by the Financial Times.
Headquartered in the United States, Bullish is a regulated digital asset exchange focused on providing deep liquidity and advanced trading features for institutional and retail crypto traders. The exchange was initially launched in 2021 and operates with a framework that integrates blockchain technology into traditional financial infrastructure.
This filing marks a renewed effort by Bullish to enter the public market after its earlier attempt to go public via a special purpose acquisition company (SPAC) in 2021 failed in 2022 due to regulatory tightening and market volatility.
With a more favorable policy climate under the current U.S. administration, Bullish is reportedly positioning itself to benefit from a surge in investor interest in digital assets. The SEC has also recently dropped several regulatory probes into crypto firms, creating a comparatively stable environment for such filings.
Bullish’s filing follows other notable IPO moves within the cryptocurrency sector. Last week, crypto exchange Gemini, led by founders Tyler and Cameron Winklevoss, also filed confidentially for a public listing. Meanwhile, stablecoin issuer Circle completed a successful $1.05 billion IPO, signaling increasing confidence in digital asset firms in public markets.
Bullish has not released an official statement regarding the IPO filing and did not respond to media inquiries. Details around the offering, including valuation and potential listing date, remain confidential at this stage.
The company’s move represents the growing momentum within the crypto sector to integrate with traditional capital markets, particularly as regulatory headwinds show signs of easing.
