Bullish US Operations LLC secures dual regulatory approval from New York’s financial regulator, marking a major milestone for the publicly-traded crypto platform.
Bullish US Operations LLC, a subsidiary of Bullish, has been granted a BitLicense and Money Transmission License by the New York State Department of Financial Services (NYDFS).
These authorizations allow Bullish to offer spot trading and custody services for cryptocurrency products to a predefined set of clients called “advanced traders” as well as institutions.
According to a Sept. 17 press release, the firm’s acquisition of the licenses represents a significant regulatory milestone for Bullish’s growth in the US while also signaling its credibility to operate within the state of New York.
Bullish Stock Performance After IPO
As Coinspeaker previously reported, Bullish went public on Aug. 13, 2025. Its shares began trading under the ticker “BLSH” and opened far above the IPO price, quickly reaching intraday highs of over $100 before settling from its immediate spike. As of the time of this article’s publication, BLSH is currently trading at $53.33, according to data from MarketBeat.
Bullish, in a landmark move, arranged to receive $1.15 billion of the proceeds from its IPO in stablecoins. The majority of the proceeds were settled in USDC, according to the firm, along with another portion that was settled in EURC.
After the firm’s stock went live on the New York Stock Exchange, Ark Invest, a finance firm owned by Cathie Wood, bought over 2.53 million shares of BLSH stock in a purchase valued at approximately $172.2 million at the time.
The firm joins an elite club of international digital assets platforms that have received dual authorization from NYDFS to offer spot cryptocurrency trading and related services. Founded in 2020 by Brendan Blumer with backing from a cadre of noteworthy investors including Peter Thiel, Alan Howard, Louis Bacon, and Richard Li, Bullish has a market cap of approximately $7.83 billion as of Sept. 17, 2025. Mr Howard has since sold his shares in Bullish some time ago.
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