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Added to YB: 2025-09-22

Pitch date: 2025-09-19

BLSH [bullish]

Bullish

-61.97%

current return

Author Info

FJ Research is an independent research platform grounded in deep conviction, long-term perspective, and a fundamental belief in ownership-driven decision-making. Sign up for the newsletter.

Company Info

Bullish, a global digital asset platform that provides market infrastructure and information services in United States.

Market Cap

$3.9B

Pitch Price

$67.24

Price Target

N/A

Dividend

N/A

EV/EBITDA

-8.38

P/E

-3.50

EV/Sales

15.29

Sector

Capital Markets

Category

growth

Show full summary:
Bullish: Where Digital Assets & Institutional Rigor Meet

BLSH: Ex-NYSE CEO Tom Farley leads institutional crypto exchange w/ regulated licenses (BitLicense, MiCA, HK). Q2 '25: $108M net income vs -$116M YOY, $180B trading volume (+35% YOY), spreads tightened to 1.3bps. SS&O revenue +61% sequentially. Q3 guidance: $69-76M revenue, $25-28M EBITDA, turning profitable.

Read full article (6 min)