Cryptocurrency exchange operator Bullish (BLSH) opened for trade on Wednesday afternoon at $90 per share, nearly triple the $37 where the company priced its IPO. Shortly after opening for trade, Bullish stock traded hands as high as $112 per share,

“Bullish's $1.1 billion IPO raise reflects growing institutional confidence in the crypto exchange sector, driven by a favorable regulatory environment under the Trump administration and Bitcoin's surge past $100,000,” said Ryan Lee, chief analyst at Bitget Research.