Shares of Crypto Exchange Bullish Jump After BitLicense Approval

Bullish (NASDAQ:BLSH), a crypto exchange, saw its shares jump following the news it had received approval in New York for a BitLicense and Money Transmission License by the New York State Department of Financial Services (NYDFS).. While based in the US, Bullish has yet to provide services in the country, and authorization under the New York regime paves the way for expansion of its services.

Bullish became a public firm via an initial public offering on August 13th, pricing its shares at $37/each.

Today, following the Bit License news and a positive earnings report, Bullish shares are trading at around $61.

Cathie Wood and her investment firm, Ark Invest, have helped boost the price of Bullish by investing millions in the company, further expanding her investments in the crypto-sphere.

Tom Farley, CEO of Bullish, stated:

“New York is widely recognized as being at the forefront of virtual currency regulation. Receiving our BitLicense and Money Transmission License from the New York Department of Financial Services is a testament to Bullish’s commitment to regulatory compliance and our dedication to building trusted, institutional-grade digital asset infrastructure in key global markets. As a former President of the New York Stock Exchange and a proud New Yorker, I look forward to Bullish’s contribution to the city’s thriving financial ecosystem.”

Bullish is also the owner of CoinDesk, a crypto-focused news publication.

 Bullish Exchange is also regulated in the European Union, Hong Kong, and Gibraltar.