Bullish Makes History with $1.15B Stablecoin IPO

Bullish, a global digital asset platform that focuses on institutions and provides market infrastructure and information services.

Written by: Sophia Cruz • Friday, August 22, 2025 • 2 min read

• Last updated: Friday, August 22, 2025

Quick overview

Bullish (NYSE: BLSH) has secured $1.15 billion in stablecoins from its recent initial public offering, marking a historic milestone in the U.S.
The majority of the stablecoins were created on the Solana network, with Jefferies acting as the billing and delivery agent.
Despite generating $250.26 billion in revenue last quarter, Bullish faces challenges, including a $348.62 million drop in net income from continuing operations.
Investor sentiment remains hopeful, reflected in the company's Enterprise Value of approximately $9.49 billion.

Bullish (NYSE: BLSH), reported today that it had arranged to receive $1.15 billion in proceeds from its recently concluded initial public offering in stablecoins. This represents a historic milestone for the use of stablecoins in an initial public offering in the United States.

Bullish (NYSE: BLSH), a global digital asset platform that focuses on institutions and provides market infrastructure and information services, announced today that it had arranged to receive $1.15 billion in stablecoins from its recent initial public offering. This is a historic step for the use of stablecoins in an initial public offering in the United States.

Most of the stablecoins were made for Bullish on the Solana network. As the billing and delivery agent for the initial public offering, Jefferies worked closely with the several issuers and platforms in the U.S., Europe, and Asia to arrange the minting, conversion, and delivery of stablecoins.

“Time and experience have taught me that missed opportunities are part of the game,” says Tim Bohen, the head trainer at StocksToTrade. There is always another configuration just around the corner. Sometimes trades don’t go as planned in the uncertain world of trading. Traders need to know that they can’t or shouldn’t take every chance that comes their way. People who learn to accept this are better ready for the next chance to trade that comes their way. It’s important to be patient, be aware, and remember that the market always gives you new chances to succeed.

Bullish’s performance these days has been the subject of a lot of discussion, especially since their IPO. They made a lot of money in the last quarter, bringing in $250.26 billion, which is impossible to ignore. The Enterprise Value, which is about $9.49 billion, is an essential number that shows how hopeful investors are. Even yet, the corporation is facing tough challenges, such as a $348.62 million decrease in net income from continuing operations.

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ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.