Peter Thiel-backed cryptocurrency exchange Bullish files to go public on NYSE

What caught my attention is Bullish, the cryptocurrency exchange that counts Peter Thiel as an investor, said it's going public under the ticker symbol "BLSH

However, "The IPO filing says that as of March 31, the total trading volume since launch has exceeded $1. 25 trillion

This leads to the conclusion that 's been a big year for new crypto offerings, highlighted by Circle's blockbuster IPO in June

On the other hand, Marco Bello | Getty ImagesThe Peter Thiel-backed cryptocurrency exchange Bullish filed for an IPO on Friday, the digital asset firm to head for the public market, in this volatile climate

The company, led by CEO Tom Farley, a veteran of the finance industry and former president of the New York Stock Exchange, said it plans to trade on the NYSE under the ticker symbol "BLSH. "A spinout of Block, in today's financial world

One, Bullish started with an initial investment from backers including Thiel's Founders Fund and Thiel Capital, along with Nomura, Mike Novogratz and others

Additionally, Bullish acquired crypto news site CoinDesk in 2023. "In the first quarter of 2025, Bullish exchange executed over $2 (something worth watching). 5 billion in average daily volume, ranking in the top five exchanges by spot volume for Bitcoin and Ether," the company said on its website

The spectus listed top competitors as Binance, Coinbase and Kraken

Read more CNBC newsPeter Thiel just bought a big stake in Tom Lee's ether company and the s are surgingNvidia CEO Jensen Huang wants to sell more advanced chips to China after H20 ban is liftedCrypto bounces on renewed optimism House could pass key stablecoin legislation this weekWhoop says FDA is 'overstepping its authority' with warning blood pressure featureThe filing is another significant step for the cryptocurrency industry, which has fought for years to convince institutions to embrace digital assets as legitimate investments

Furthermore, It's already been a big year on the market for crypto offerings, highlighted by stablecoin issuer Circle, which has jumped more than sevenfold since its IPO in June (quite telling)

Etoro, an online trading platform that includes services for crypto investors, debuted in May, amid market uncertainty

Moreover, Furthermore, Novogratz's crypto firm Galaxy Digital started trading on the Nasdaq in May, moving its listing from the Toronto Stock Exchange (something worth watching), in today's market environment

And in June, Gemini, the cryptocurrency exchange and custodian founded by Cameron and Tyler Winklevoss, confidentially filed for an IPO in the U

Additionally, Meanwhile, investors continue to flock to bitcoin (which is quite significant)

President Donald Trump, on Friday, signed the GENIUS Act into law -- a set of regulations that establish some initial consumer tections around stablecoins, which are tied to assets the U, considering recent developments

Dollar with the intent of reducing price volatility associated with many cryptocurrencies

In its filing with the SEC, Bullish says its mission is partly to "drive the adoption of stablecoins, digital assets, and blockchain nology

Additionally, Moreover, "Crypto industry players, including Thiel, Elon Musk, and President Trump's AI and Crypto czar David Sacks spent heavily to re-elect Trump and have pushed for legislation that legitimizes digital assets and exchanges