Bullish, a digital asset exchange operator, has increased its initial public offering (IPO) target valuation by nearly 60% to approximately $990 million. This increase signals rising investor interest as crypto-related stocks gain momentum. The company plans to offer 30 million shares priced between $32 and $33 each, potentially leading to a market capitalization of around $4.8 billion upon IPO, up from a previously set target of $4.2 billion. Major financial institutions including JPMorgan, Jefferies, and Citigroup are leading the IPO, while various institutional investors, including BlackRock and ARK Investment Management, have shown interest. The push for going public is driven by growing adoption of digital assets by traditional finance players. Additionally, Bullish aims to capitalize on the positive sentiment in the market, similar to the stablecoin issuer Circle, which recently raised over $1 billion. Institutional interest in digital assets has been rising, with notable inflows into Bitcoin and Ether exchange-traded funds as well.

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