Crypto Exchange Bullish Files for U.S. IPO

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.”

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.