Bullish Global, the cryptocurrency exchange backed by Peter Thiel, has reportedly filed for an initial public offer in New York.
Bullish, which is being spun out of blockchain software company Block.one, issued a confidential filing with the US Securities and Exchange Commission, the Financial Times reported.
The regulated digital assets exchange, which also owns crypto news website CoinDesk, hired advisers from Jefferies Financial earlier this year, following a failed attempt to list in 2022.
Bullish says on its website that it is the "standard for institutional crypto trading", with a "deeply liquid" global order book to offers tight spreads and low fees to institutions and advanced traders in bitcoin, ethereum and other digital assets.
Block.one founded the exchange in 2021 with an initial investment of $10 billion that also came from investors including Thiel's Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Li, Mike Novogratz, Christian Angermayer and Nomura.
The report suggested Bullish is seeking to capitalise on renewed investor interest in digital assets under the current administration, with President Trump having already taken a softer stance on crypto regulation than his predecessor.
Including Bullish, Block.one has funded more than 100 businesses.