Bullish Sentiment Lifts Shares 5% as Crypto Firm Gains NY BitLicense

Bullish Shares Climb 5% After Securing New York BitLicense – 17/9/2025

Shares of Bullish (BLSH) jumped 5% to $53.12 on Tuesday following news that the crypto platform received a BitLicense from the New York State Department of Financial Services. The approval allows Bullish US Operations LLC to offer spot trading and custody services to institutional clients in New York, a key step in the company’s U.S. expansion.

Previously, Bullish was regulated only in Germany, Hong Kong, and Gibraltar. The license positions the company to serve advanced traders in the U.S., strengthening its institutional-focused platform. Bullish’s parent company also owns CoinDesk.

The BitLicense news comes shortly after ARK Invest increased its stake in Bullish. The ARK Innovation ETF (ARKK) acquired 120,609 shares, while the ARK Next Generation Internet ETF (ARKW) picked up 40,574 shares, together valued at roughly $8.21 million.

Bullish will report second-quarter earnings after market close on Wednesday. Investment bank Keefe, Bruyette & Woods (KBW) recently initiated coverage with a “market perform” rating and $55 price target, noting U.S. expansion as a growth catalyst.

Since its August NYSE debut via direct listing, Bullish shares surged to $104 on opening day before closing at $68. Shares have since fallen 22%, with the BitLicense announcement providing a timely boost. Bernstein noted that successful U.S. expansion, targeted for 2026, could position Bullish as a credible competitor to Coinbase.