Bullish, a digital exchange operator and media company, is seeking to raise between $568 million and $629 million in an initial public offering (IPO) in the US, with plans to issue 20.3 million shares at a price range of $28 to $31 per share, potentially valuing the company at up to $4.2 billion. Major institutional investors from BlackRock and ARK Investment Management have expressed interest in purchasing up to $200 million worth of stock. The IPO could be approved for trading as early as August 12, 2023. Bullish operates a digital asset platform aimed at institutional clients across over 50 jurisdictions. Additionally, in November 2023, it expanded into crypto media by acquiring CoinDesk for $72.6 million. Bullish is part of a growing trend of crypto-focused companies pursuing public listings, alongside others like Kraken and Circle, amid increased regulatory clarity and institutional adoption in the US. Recent legislation signed into law aims to establish a stablecoin framework, further supporting this development.

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