Bullish, a crypto exchange, saw its stock open at $90 during its New York Stock Exchange debut, representing a 143% increase from its initial public offering (IPO) price of $37 per share. Within minutes, the stock surged to $118, signaling strong demand for equity exposure in the crypto segment. Founded in 2021 and led by former NYSE president Tom Farley, Bullish received backing from notable investors such as Block.one and Thiel Capital. The recent IPO follows Circle's listing on the NYSE, which occurred two months prior and also saw initial high trading volumes. Bullish reported holding $28 million in cash, alongside significant amounts of US dollar stablecoins, bitcoin, and ether as of March 31. The interest observed from both Bullish and Circle's IPOs suggests a growing trend of companies entering the public market in the crypto space, with others, including Figure Technology and Gemini, eyeing similar paths. This is a developing story that highlights the volatile yet vibrant world of crypto equities.

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