BU

Bullish

publicNYSE: BLSHexchangeseeded profile
Digital Assets· Crypto exchange· GEORGE TOWN, Cayman Islandsbullish.com ↗CIK 0001872195 ↗
Compare
Scores 52 min agoLast event 9 h agoSEC 9 h ago
Radar composite
31.3+5.4over 30 days
STABLE+7.5
Last signal
Active signals
51 of 54
Confidence
69%

Signal score, not a calibrated probability · config v1 · scores

Contributing dimensions

SCORE BREAKDOWN

IPO
28.4
Readiness 35 · structural
Tokenization
33.4
Securities-tokenization evidence
On-chain
36.3
Settlement / custody infrastructure
Explainable scoring

Why it scores this way

Methodology →

Raising the score

decayed points
  • TOK+17.8 points added to the score
    Explicit Statements
    10 signals after decay · component at 99/100, weighted 18% of the dimension
  • CHAIN+15.8 points added to the score
    Securities Infrastructure
    12 signals after decay · component at 99/100, weighted 16% of the dimension
  • IPO+10.7 points added to the score
    Regulatory Evidence
    11 signals after decay · component at 67/100, weighted 16% of the dimension
  • IPO+8.0 points added to the score
    Financial Maturity
    company is already public
  • CHAIN+7.1 points added to the score
    Tokenization Provider
    2 signals after decay · component at 50/100, weighted 14% of the dimension
  • TOK+5.1 points added to the score
    Exchange Relationships
    2 signals after decay · component at 63/100, weighted 8% of the dimension
  • CHAIN+4.8 points added to the score
    Transfer Infrastructure
    1 signal after decay · component at 40/100, weighted 12% of the dimension
  • CHAIN+4.8 points added to the score
    Regulatory Compatibility
    2 signals after decay · component at 40/100, weighted 12% of the dimension

Holding it back

No contradicting evidence, and nothing has decayed materially yet.

Points are shown after time decay and source-quality weighting. Evidence loses weight on a half-life of IPO 90d · TOK 120d · CHAIN 180d and is dropped entirely after 730 days. Scoring configuration v1. This is a signal score, not a calibrated probability.

Showing component-level attribution. Which individual filing or article moved each component — and the day-over-day change explanation — is part of Pro. Compare plans →

Score movement

What changed

7 daily snapshots
27.131.3+4.3radar composite over 10 days
Last 10 days
+4.327.1 → 31.3
Last 24 days
+3.827.5 → 31.3

Evidence detected in the last 7 days

  • Explicit tokenized-securities statement+3.1

    Bullish: A $4.2 Billion Bet On Tokenized Securities Infrastructure (NYSE:BLSH)

    Seeking Alpha Tier 4 source, Secondary
  • Tokenized shares issued+7.2

    Bullish (Ondo Tokenized Stock) to Euro Price Today | Live BLSHon to EUR Converter & Exchange Rate

    CryptoRank Tier 4 source, Secondary
  • Explicit tokenized-securities statement+2.9

    Peter Thiel-Backed Bullish Sees Tokenized Stocks as a 'Giant Growth Opportunity' No One Saw Coming

    finance.yahoo.com Tier 4 source, Secondary
  • Explicit tokenized-securities statement+1.9

    Bullish Stock Gained 12%, Lost 11% the Next Day. The Tokenization Bet Just Got Slower.

    TIKR.com Tier 4 source, Secondary

These are scored events the pipeline retrieved inside the window. A move is not only new evidence: existing signals also lose weight to time decay, corroboration can change, and company attributes such as funding or status can move a component. This list is limited by your plan, so there may be more.

ProHow much of the move was each factor

The windows and the evidence above are the whole free picture: what moved, and what arrived. Pro decomposes the move itself into new evidence, decay, corroboration and attribute changes, per dimension.

  • Points from new evidence versus points lost to decay
  • Corroboration and source-quality changes, separated
  • Attribute changes: funding, valuation, status
  • Any two dates, not just the fixed windows
Upgrade to Pro
Score history

Trend

7 daily snapshots
02550751002026-08-192026-09-082026-09-12
Radar IPO Token On-chain
Comparable companies
Companies comparable to Bullish
CompanyIPOTokenOn-chainMomentum
Gemini Space StationDigital Assets3500
KrakenDigital Assets374132
Circle Internet GroupDigital Assets242325
BitGoDigital Assets493228
Exodus MovementDigital Assets191210
RippleDigital Assets352422
Side-by-side comparison →
Company overview

PROFILE

Founded
2021
Employees
not on record
Latest valuation
none on record
Latest round
none on record
Total funding
none on record
Major investors
none on record
Executives
none on record
Aliases
Bullish

Institutional digital-asset exchange (owner of CoinDesk); listed on the NYSE in August 2025.

IPO status

IPO SIGNAL SCORE

Signal score
28.4 signal score — not a calibrated probability
IPO readiness
35.0 structural (maturity, funding, valuation)
Timeline estimate
prediction already public
Filing status
fact PUBLIC
Public/private
public
Known banks
Morgan Stanleymentioned
Advisors
none detected
Score components
  • Regulatory Evidence10.7 / 16.0 pts
    11 signals · 11 decayed signal(s), mass 66.1 → 66.7/100 (k=60) × weight 0.16
  • Financial Maturity8.0 / 8.0 pts
    Company attribute · company is already public
  • Market Conditions4.0 / 4.0 pts
    Company attribute · 201 S-1/F-1 filings on EDGAR in last 90d vs baseline 60
  • Filing Evidence2.4 / 20.0 pts
    3 signals · 3 decayed signal(s), mass 7.1 → 12.1/100 (k=55) × weight 0.2
  • Recency2.4 / 3.0 pts
    Company attribute · most recent supporting signal 30d old (recency factor 0.79)
  • Banking Evidence0.9 / 14.0 pts
    2 signals · 2 decayed signal(s), mass 3.4 → 6.7/100 (k=50) × weight 0.14
  • Liquidity Evidence0.0 / 6.0 pts
    Company attribute · no signals in window
  • Funding Maturity0.0 / 8.0 pts
    Company attribute · total funding unknown, latest round unknown
  • Executive Evidence0.0 / 8.0 pts
    4 signals · 4 decayed signal(s), mass -3.2 → 0.0/100 (k=45) × weight 0.08
  • Valuation Maturity0.0 / 8.0 pts
    Company attribute · no valuation on record
  • Corporate Restructuring0.0 / 5.0 pts
    Company attribute · no signals in window

28.4 points total, out of 100 available at these weights.

Recent IPO / regulatory / banking evidence

No evidence of this kind on record.

Executive statements
  • Explicit tokenized-securities statement+3.1

    Bullish: A $4.2 Billion Bet On Tokenized Securities Infrastructure (NYSE:BLSH)

    Seeking Alpha Tier 4 source, Secondary
  • Explicit tokenized-securities statement+2.9

    Peter Thiel-Backed Bullish Sees Tokenized Stocks as a 'Giant Growth Opportunity' No One Saw Coming

    finance.yahoo.com Tier 4 source, Secondary
  • Explicit tokenized-securities statement+1.9

    Bullish Stock Gained 12%, Lost 11% the Next Day. The Tokenization Bet Just Got Slower.

    TIKR.com Tier 4 source, Secondary
Tokenization status

TOKENIZATION SIGNAL SCORE

Signal score
33.4
On-chain readiness
36.3
Tokenization partners
Backed Financementioned
Custody
none detected
Transfer agent
EquinitimentionedEquinitiuses
Exchanges / venues
New York Stock Exchangementioned
Settlement
none detected
Blockchains
none detected
Score components
  • Explicit Statements17.8 / 18.0 pts
    10 signals · 10 decayed signal(s), mass 219.1 → 98.7/100 (k=50) × weight 0.18
  • Exchange Relationships5.1 / 8.0 pts
    2 signals · 2 decayed signal(s), mass 45.2 → 63.4/100 (k=45) × weight 0.08
  • Securities Infrastructure3.9 / 12.0 pts
    1 signal · 1 decayed signal(s), mass 19.6 → 32.4/100 (k=50) × weight 0.12
  • Recency3.7 / 4.0 pts
    Company attribute · most recent supporting signal 12d old (recency factor 0.93)
  • Regulatory Readiness2.9 / 8.0 pts
    2 signals · 2 decayed signal(s), mass 22.6 → 36.3/100 (k=50) × weight 0.08
  • Custody Infrastructure0.0 / 7.0 pts
    Company attribute · no signals in window
  • Blockchain Partnerships0.0 / 10.0 pts
    Company attribute · no signals in window
  • Executive Statements0.0 / 8.0 pts
    Company attribute · no signals in window
  • Settlement Infrastructure0.0 / 8.0 pts
    Company attribute · no signals in window
  • Tokenization Partnerships0.0 / 17.0 pts
    Company attribute · no signals in window

33.4 points total, out of 100 available at these weights.

On-chain readiness components
  • Securities Infrastructure15.8 / 16.0 pts
    12 signals · 12 decayed signal(s), mass 211.6 → 98.5/100 (k=50) × weight 0.16
  • Tokenization Provider7.1 / 14.0 pts
    2 signals · 2 decayed signal(s), mass 35.1 → 50.4/100 (k=50) × weight 0.14
  • Transfer Infrastructure4.8 / 12.0 pts
    1 signal · 1 decayed signal(s), mass 22.8 → 39.7/100 (k=45) × weight 0.12
  • Regulatory Compatibility4.8 / 12.0 pts
    2 signals · 2 decayed signal(s), mass 25.3 → 39.7/100 (k=50) × weight 0.12
  • Kyc Aml Readiness3.9 / 10.0 pts
    2 signals · 2 decayed signal(s), mass 22.5 → 39.3/100 (k=45) × weight 0.1
  • Blockchain Integration0.0 / 12.0 pts
    Company attribute · no signals in window
  • Settlement0.0 / 12.0 pts
    Company attribute · no signals in window
  • Custody0.0 / 12.0 pts
    Company attribute · no signals in window

36.3 points total, out of 100 available at these weights.

Tokenization / blockchain evidence
  • Explicit tokenized-securities statement+3.1

    Bullish: A $4.2 Billion Bet On Tokenized Securities Infrastructure (NYSE:BLSH)

    Seeking Alpha Tier 4 source, Secondary
  • Tokenized shares issued+7.2

    Bullish (Ondo Tokenized Stock) to Euro Price Today | Live BLSHon to EUR Converter & Exchange Rate

    CryptoRank Tier 4 source, Secondary
  • Explicit tokenized-securities statement+2.9

    Peter Thiel-Backed Bullish Sees Tokenized Stocks as a 'Giant Growth Opportunity' No One Saw Coming

    finance.yahoo.com Tier 4 source, Secondary
  • Explicit tokenized-securities statement+1.9

    Bullish Stock Gained 12%, Lost 11% the Next Day. The Tokenization Bet Just Got Slower.

    TIKR.com Tier 4 source, Secondary

IPO Radar is a research and intelligence tool. Scores are signal scores derived from public evidence — they are not calibrated probabilities and not investment advice. FACT, INFERENCE and PREDICTION are kept separate, and every event links to its source.