BitGo Plans IPO: What to Expect and Potential Stock Reactions.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 14 2026
0mins
Should l Buy BLSH?
Source: Barron's
- Bitcoin Price Volatility: The price of Bitcoin continues to experience significant fluctuations.
- Crypto Companies Going Public: Despite the volatility, crypto-related companies are actively pursuing public offerings this year.
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Analyst Views on BLSH
Wall Street analysts forecast BLSH stock price to rise
7 Analyst Rating
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 31.880
Low
45.00
Averages
54.00
High
67.00
Current: 31.880
Low
45.00
Averages
54.00
High
67.00
About BLSH
Bullish is an institutionally focused global digital asset platform focused on providing market infrastructure and information services. The Company is focused on providing products and services that are designed to help institutions grow their businesses, empower individual investors, and drive the adoption of stablecoins, digital assets, and blockchain technology. It operates two primary business lines: media and events. Its media business delivers news and information on the digital assets industry. Its media business operates through CoinDesk.com. Its events business gathers the global digital asset, blockchain, and Web3 communities at annual events, such as Consensus. It provides trusted insights, authoritative news, data, indices and transparent analysis to the digital assets industry while facilitating partnerships, investment opportunities, and community engagement through its flagship Consensus conference. The Company offers its services under the Bullish and CoinDesk brands.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ark Invest Extends Bullish Trend to Nine Days, Accumulating $11.6 Million Total
- Investment Increase: Cathie Wood's Ark Invest has increased its holdings of Bullish stocks for nine consecutive days.
- Total Increase: The total increase in holdings amounts to $11.6 million.
See More
Surge in Options Volume for BLSH and MDB Stocks
- BLSH Options Volume: As of now, BLSH ordinary shares options have seen a trading volume of 12,843 contracts, representing approximately 1.3 million underlying shares, which is 50.6% of its average daily trading volume of 2.5 million shares over the past month, indicating strong market interest in the stock.
- High-Frequency Trading Analysis: Notably, the $30 strike put option expiring on February 13, 2026, has traded 2,735 contracts today, equating to about 273,500 underlying shares, suggesting an increased investor expectation for future price declines.
- MDB Options Dynamics: Concurrently, MDB ordinary shares options have recorded a trading volume of 7,687 contracts, approximately 768,700 underlying shares, which accounts for 50.4% of its average daily trading volume of 1.5 million shares over the past month, reflecting active trading interest among investors.
- Bullish Call Options Trading: For MDB, particularly the $400 strike call option expiring on February 27, 2026, has seen a trading volume of 452 contracts today, representing around 45,200 underlying shares, indicating a bullish sentiment regarding MDB's future price increase.
See More
Software Stocks Rebound, AppLovin Surges 14%
- Software Stock Rebound: Following last week's severe selloff, the iShares Expanded Tech-Software Sector ETF (NYSE:IGV) jumped over 3% on Monday, marking its strongest daily gain since late April 2025, indicating renewed investor interest in software stocks and a potential recovery in market confidence.
- Nasdaq Outperformance: The Nasdaq 100 climbed 1%, significantly outperforming broader Wall Street, while the S&P 500 added 0.7%, suggesting that the strong rebound in tech stocks is driving overall market gains and may attract more capital inflows.
- Individual Stock Surge: AppLovin Corp. (NASDAQ:APP) surged more than 14% after logging four consecutive weekly declines, reflecting optimistic market sentiment regarding its future growth potential, which could draw more investor attention to the company.
- Commodity Market Recovery: Oil prices rose over 2% to $64.6 a barrel, while gold rebounded 2.5% to $5,090 an ounce, and silver soared over 6% to $82 an ounce, indicating an improvement in market risk appetite that may positively impact related industries.
See More
Valaris Shares Surge 21.8% Amid Transocean Acquisition Deal
- Significant Price Surge: Valaris shares jumped 21.8% to $76.02 on Monday, reflecting strong market confidence in the company's upcoming acquisition by Transocean, indicating a positive investor sentiment towards the deal.
- Clear Transaction Terms: Under the terms of the all-stock transaction, Valaris shareholders will receive 15.235 shares of Transocean stock for each Valaris share, which may attract more investor interest in Valaris's future performance.
- Mixed Market Performance: U.S. stocks were mixed on Monday, with the Nasdaq gaining around 100 points, showcasing strong performance in tech stocks amidst volatility in other sectors, reflecting the complexity of market sentiment.
- Investor Focus: The acquisition news surrounding Valaris has sparked widespread market attention, potentially influencing the stock prices of other related companies, prompting investors to closely monitor subsequent market reactions and industry developments.
See More
JPMorgan Lowers Bullish Price Target to $42
- Price Target Adjustment: JPMorgan analyst Kenneth Worthington lowered Bullish's (NYSE:BLSH) price target from $45 to $42 while maintaining a Neutral rating, reflecting tempered near-term expectations but indicating a balanced valuation relative to operational trends.
- Institutional Investment Dynamics: Cathie Wood's Ark Invest added approximately $6 million worth of Bullish shares, signaling confidence in the company's long-term positioning within the digital asset ecosystem, highlighting Bullish's role as core infrastructure that could benefit from stabilizing market activity.
- Compliance Advantage: Founded in 2020 and headquartered in George Town, Cayman Islands, Bullish operates a regulated cryptocurrency exchange with licenses across major jurisdictions including Germany, Hong Kong, Gibraltar, and New York State, showcasing its differentiated competitive edge in the evolving digital asset market.
- Market Outlook Analysis: While Bullish is viewed as a potential investment, analysts believe certain AI stocks offer greater upside potential and carry less downside risk, suggesting that Bullish's investment appeal may be limited in the current market environment.
See More
Bullish Reports Strong Q4 2025 Earnings with Record Revenue Growth
- Significant Revenue Growth: Bullish achieved record SS&O revenue of $54.6 million in Q4 2025, representing a 284% year-over-year increase, while adjusted EBITDA reached $44.5 million, reflecting a 55% quarter-over-quarter growth, indicating strong momentum in the institutional client market.
- Market Expansion Strategy: CEO Thomas Farley emphasized that Bullish will continue to focus on expanding its influence in the regulated derivatives market, with a target of SS&O revenue between $220 million and $250 million for 2026, aiming for approximately 50% year-over-year growth.
- Record Customer Activity: Bullish reported all-time highs in customer activity during Q4, including monthly active customers, total customer funds on the platform, and open interest for futures and options, with the options platform exceeding $2 billion in open interest by year-end, becoming the global #2 in Bitcoin options.
- Optimistic Future Outlook: Despite facing macroeconomic and regulatory uncertainties, CFO David Bonanno stated that Bullish's guidance for 2026 reflects optimistic expectations for continued strong business momentum and increasing customer demand.
See More
Ark Invest Extends Bullish Trend to Nine Days, Accumulating $11.6 Million Total
- Investment Increase: Cathie Wood's Ark Invest has increased its holdings of Bullish stocks for nine consecutive days.
- Total Increase: The total increase in holdings amounts to $11.6 million.
See More
Surge in Options Volume for BLSH and MDB Stocks
- BLSH Options Volume: As of now, BLSH ordinary shares options have seen a trading volume of 12,843 contracts, representing approximately 1.3 million underlying shares, which is 50.6% of its average daily trading volume of 2.5 million shares over the past month, indicating strong market interest in the stock.
- High-Frequency Trading Analysis: Notably, the $30 strike put option expiring on February 13, 2026, has traded 2,735 contracts today, equating to about 273,500 underlying shares, suggesting an increased investor expectation for future price declines.
- MDB Options Dynamics: Concurrently, MDB ordinary shares options have recorded a trading volume of 7,687 contracts, approximately 768,700 underlying shares, which accounts for 50.4% of its average daily trading volume of 1.5 million shares over the past month, reflecting active trading interest among investors.
- Bullish Call Options Trading: For MDB, particularly the $400 strike call option expiring on February 27, 2026, has seen a trading volume of 452 contracts today, representing around 45,200 underlying shares, indicating a bullish sentiment regarding MDB's future price increase.
See More
Software Stocks Rebound, AppLovin Surges 14%
- Software Stock Rebound: Following last week's severe selloff, the iShares Expanded Tech-Software Sector ETF (NYSE:IGV) jumped over 3% on Monday, marking its strongest daily gain since late April 2025, indicating renewed investor interest in software stocks and a potential recovery in market confidence.
- Nasdaq Outperformance: The Nasdaq 100 climbed 1%, significantly outperforming broader Wall Street, while the S&P 500 added 0.7%, suggesting that the strong rebound in tech stocks is driving overall market gains and may attract more capital inflows.
- Individual Stock Surge: AppLovin Corp. (NASDAQ:APP) surged more than 14% after logging four consecutive weekly declines, reflecting optimistic market sentiment regarding its future growth potential, which could draw more investor attention to the company.
- Commodity Market Recovery: Oil prices rose over 2% to $64.6 a barrel, while gold rebounded 2.5% to $5,090 an ounce, and silver soared over 6% to $82 an ounce, indicating an improvement in market risk appetite that may positively impact related industries.
See More
Valaris Shares Surge 21.8% Amid Transocean Acquisition Deal
- Significant Price Surge: Valaris shares jumped 21.8% to $76.02 on Monday, reflecting strong market confidence in the company's upcoming acquisition by Transocean, indicating a positive investor sentiment towards the deal.
- Clear Transaction Terms: Under the terms of the all-stock transaction, Valaris shareholders will receive 15.235 shares of Transocean stock for each Valaris share, which may attract more investor interest in Valaris's future performance.
- Mixed Market Performance: U.S. stocks were mixed on Monday, with the Nasdaq gaining around 100 points, showcasing strong performance in tech stocks amidst volatility in other sectors, reflecting the complexity of market sentiment.
- Investor Focus: The acquisition news surrounding Valaris has sparked widespread market attention, potentially influencing the stock prices of other related companies, prompting investors to closely monitor subsequent market reactions and industry developments.
See More
JPMorgan Lowers Bullish Price Target to $42
- Price Target Adjustment: JPMorgan analyst Kenneth Worthington lowered Bullish's (NYSE:BLSH) price target from $45 to $42 while maintaining a Neutral rating, reflecting tempered near-term expectations but indicating a balanced valuation relative to operational trends.
- Institutional Investment Dynamics: Cathie Wood's Ark Invest added approximately $6 million worth of Bullish shares, signaling confidence in the company's long-term positioning within the digital asset ecosystem, highlighting Bullish's role as core infrastructure that could benefit from stabilizing market activity.
- Compliance Advantage: Founded in 2020 and headquartered in George Town, Cayman Islands, Bullish operates a regulated cryptocurrency exchange with licenses across major jurisdictions including Germany, Hong Kong, Gibraltar, and New York State, showcasing its differentiated competitive edge in the evolving digital asset market.
- Market Outlook Analysis: While Bullish is viewed as a potential investment, analysts believe certain AI stocks offer greater upside potential and carry less downside risk, suggesting that Bullish's investment appeal may be limited in the current market environment.
See More
Bullish Reports Strong Q4 2025 Earnings with Record Revenue Growth
- Significant Revenue Growth: Bullish achieved record SS&O revenue of $54.6 million in Q4 2025, representing a 284% year-over-year increase, while adjusted EBITDA reached $44.5 million, reflecting a 55% quarter-over-quarter growth, indicating strong momentum in the institutional client market.
- Market Expansion Strategy: CEO Thomas Farley emphasized that Bullish will continue to focus on expanding its influence in the regulated derivatives market, with a target of SS&O revenue between $220 million and $250 million for 2026, aiming for approximately 50% year-over-year growth.
- Record Customer Activity: Bullish reported all-time highs in customer activity during Q4, including monthly active customers, total customer funds on the platform, and open interest for futures and options, with the options platform exceeding $2 billion in open interest by year-end, becoming the global #2 in Bitcoin options.
- Optimistic Future Outlook: Despite facing macroeconomic and regulatory uncertainties, CFO David Bonanno stated that Bullish's guidance for 2026 reflects optimistic expectations for continued strong business momentum and increasing customer demand.
See More
