Bullish Shares Jump 5% After Securing New York BitLicense – 17/9/2025
Shares of Bullish (BLSH) rose 5% to $53.12 on Tuesday after the crypto platform received a BitLicense from the New York State Department of Financial Services. The approval allows Bullish US Operations LLC to offer spot trading and custody services to institutional clients in New York, marking a key step in the company’s U.S. expansion.
Previously, Bullish was regulated only in Germany, Hong Kong, and Gibraltar. The new license positions the company to serve advanced traders in the U.S., reinforcing its institutional-focused platform. Bullish’s parent company also owns CoinDesk.
The BitLicense announcement follows increased backing from ARK Invest. The ARK Innovation ETF (ARKK) purchased 120,609 shares, while the ARK Next Generation Internet ETF (ARKW) added 40,574 shares, totaling roughly $8.21 million in combined investment.
Bullish is set to report second-quarter earnings after market close on Wednesday. Earlier this week, investment bank Keefe, Bruyette & Woods (KBW) initiated coverage with a “market perform” rating and a $55 price target, noting U.S. expansion as a key growth catalyst.
Since its August NYSE debut via direct listing, Bullish shares surged to $104 at open before closing at $68. Shares have since fallen 22%, with the BitLicense announcement providing a timely boost. Brokerage firm Bernstein noted that successful U.S. expansion, targeted for 2026, could make Bullish a strong competitor to Coinbase.
