Digital Asset Platform Bullish Files For IPO

By Kelly Cloonan

Bullish, a digital asset platform, has filed for an initial public offering.

The Cayman Islands-based holding company recorded net income of $80 million in 2024, compared to $1.3 billion in 2023, according to a filing with the Securities and Exchange Commission on Friday.

Bullish operates under its namesake brand as well as CoinDesk, which it acquired in 2023. The company aims to drive further adoption of stablecoins, digital assets and blockchain technology, with services spanning trading infrastructure, information services, data and insights, it said.

The company didn't disclose an expected number of shares or price for the offering. It intends to have its units listed on the New York Stock Exchange under the ticker BLSH.

Bullish said it expects to use the proceeds from the offering for general corporate and working capital purposes, including funding potential future acquisitions.

Write to Kelly Cloonan at kelly.cloonan@wsj.com