The upholstery stocks rise by 83 % on the New York Stock Exchange

Crypto Exchange shares Climb On Wednesday, after the exchange of cryptocurrency, about $ 1.1 billion in a preliminary public offer.

The stock opened at $ 90 on the New York Stock Exchange, 143 % higher than the public subscription price of $ 37. At one point, it rose to $ 118 before closing at $ 68, an increase of more than 83 %.

Company The price of the public subscription early Wednesday Much higher The expected range this week From $ 32 to $ 33 and The first range last week Of $ 28 and $ 31, the company rated approximately $ 5.6 billion before the start of trading. By the end of the day, the market value amounted to about 10.25 billion dollars, based on 150.684 million suspended shares.

Bullish sold 30 million shares in public subscription, and represents 19.9 % of its total shares.

Bullish, under the leadership of former New York Stock Exchange Tom Farley and supported by technical billionaire Peter Thil, focuses on institutional investors and mixes decentralized financing protocols with the security of a central company.

“The last station in encryption in the past ten years, mainly, and the institutional wave began,” Farley told CNBC’s.Screaming“Wednesday.” It is here, and it is the issue of its size. Based on the reception we got even as part of our public subscription, institutional investors seem to feel that this may be this moment. “

Since the launch of the company in 2021, the total trading volume on the upper platform exceeded $ 1.25 trillion as of March 31. Cayman Islass-Quraars also owns Crypto News Coindsk, which includes encryption indexes, data and analyzes.

Bullish joins a group of companies looking to take advantage of the Trump administration’s positive position towards the encryption industry. In June, Source Stablecoin circle to make For the first time in the stock market is very successfulThe collection of more than a billion dollars. after that Transportation From Mike Novuzratz Galaxy Digital To Nasdak from Toronto, stock trading and encryption application Itoro The public subscription it estimates at $ 5.4 billion. Crypto Custod Startup Bitgo and Crypto Excination Guemini have also been offered to US lists.

This is the second attempt by ascending to the public in the four years since the company’s launch.