The 2024–2025 Crypto Bull Market will be remembered for many things: the runaway success of funds exchanged by the Bitcoin exchange, the advancement of institutional adoption, and a wave of industry’s IPOs.
The Digital Asset Exchange Operator Bullish is the latest crypto company-re-join the IPO Rush, aimed at copying the success of the Stablecoin issuer’s public market public market success The Bitcoin-Friendly Figma design platformthat recently went public.
Bullish’s case stands out: the company has raised the IPO price several times, signing strong investor demand. File by the Securities and Exchange Commission (SEC) has revealed an early interest from Blackrock and Ark Investment Management subsidiaries.
This week’s Crypto Biz Newsletter dives into the Ipo Frenzy of Bullish, Pantera Capital’s Woney at the Crypto Treasury Company, the Growing Institutional Foothold of Ethereum and the ongoing resistance to the US banking lobby in Stablecoin.
Bullish goes public
After the weeks of reports suggesting Bullish raises the price of IPOThe company priced its debut at $ 37 per part on Wednesday -higher than the expected range of $ 32 to $ 33. The Crypto Exchange Operator and CoinDesk’s -owned CoinDesk has reportedly increased the target fundraising of funds amid strong investor demand.
Bullish sold 30 million shares the offer price, giving the company a total market capitalization of $ 5.4 billion. The stock is now trading with the New York Stock Exchange under the BLSH ticker.
During its SEC files, Bullish mentioned the increase in the digital asset market and the institution’s growing interest as the main drivers behind its IPO timing.
Pantera makes Big Bet in Crypto Treasury Companies
Pantera capital, that’s Correctly predicted 2025 price of bitcoin Back to 2022, is ramping up its exposure In the Crypto Treasury performs amid the growing ETF adoption.
Pantera executives Cosmo Kiang and Erik Lowe explained that digital assets Treasury (DATS) “can produce produce to grow the cost of net asset per part, resulting in more basic token ownership over time than just holding the place.”
Following this approach, the company has invested more than $ 300 million in crypto treasury companies with exposure to bitcoin (Btc), Ether (Eth), Solana (Sol) and other properties.
“These Dat exploits their unique situations to use techniques to grow their digital asset holders in a per-share accretive way,” the executives said.
Bitmine targets $ 24.5 billion increases for ether purchases
Bitmine Immersion Technology, a public exchanged with Bitcoin Mining Company, has Plans announced to raise $ 24.5 billion Through a stock sale to get more ether – emphasizes the growing breed to accumulate cryptocurrency as it approaches high records.
Ethereum’s largest corporate holder, Bitmine owns about 1.2 million ETHs worth about $ 5.3 billion, according to the industry Data.
In July, Bitmine appointed Tom Lee As chairman of the Board-a move that seems to aim to mirrors the high-profile corporate crypto approach of approach and bitcoin evangelist Michael Saylor.
The plan arrived as Ether’s price grew 55% last month, putting it within a striking distance of high time.
The US banking lobby continues to war with Stablecoins
Less than three months after Cointelegraph reported In the US banking lobby “panicking” over yield-bearing stablecoins, industry groups are now The government is driven To close a detected loophole in the Genius Act. The loophole, they focus, may allow the stablecoin and their affiliates to offer yields to stablecoin handles.
Many banking associations, led by the Bank Policy Institute, have noted that while the Genius Act prohibits stablecoin who has given up on paying interest to dollar holders, the ban does not clearly reach the affiliates or exchange of crypto.
In public, groups claim their concern is that stablecoins can break the banking system. However, critics say the more fear of fear may be that Stablecoins will erase their business model – especially given the long history of banks offering a little return to depositors.
The Crypto Biz is your weekly pulse business behind Blockchain and Crypto, which is delivered directly to your inbox every Thursday.
