Bullish secures New York BitLicense, Bernstein: stock price targets $60

The cryptocurrency exchange Bullish announced on 9/17 that its U.S. operations have officially obtained the Compliance license BitLicense issued by the New York State Department of Financial Services (NYDFS) and the Money Transmitter License, MTL(, which means Bullish can provide Spot trading and custody services for crypto assets in New York in the future.

Officially obtained New York BitLicense and MTL

Bullish announced that its U.S. digital asset exchange and custody business, Bullish US Operations LLC, has officially obtained the "Virtual Currency Business Activity License" ), BitLicense (, and MTL issued by NYDFS.

These two licenses allow Bullish to provide crypto assets spot trading and asset custody services for institutional investors and high-level traders in New York.

) Note: The MTL fund transfer license is issued by financial regulatory authorities in various states of the United States, allowing operators to legally provide services such as collection, transfer, remittance, and fund custody, covering Crypto Assets trading, electronic payment, and digital wallet business. (

The BitLicense review is strict and costly, making it difficult for Bullish to obtain.

Since the introduction of BitLicense in 2015, it has been criticized by the industry for its strict review process and high costs, with a basic application requiring a payment of 5,000 USD.

Despite only a few companies successfully obtaining it, including MoonPay and Anchorage Digital subsidiaries, there are increasing calls for New York State to reconsider or even abolish this system to avoid hindering the development of the local crypto industry.

It is not easy for Bullish to successfully obtain BitLicense and MTL under such harsh conditions.

The CEO emphasized compliance and New York's financial status.

Tom Farley, who has a background as president of the New York Stock Exchange and is currently the CEO of Bullish, was also seen on the streets of New York, recording a selfie video stating:

"New York has always been regarded as a leader in cryptocurrency regulation. Obtaining BitLicense and MTL represents our commitment to Compliance, and symbolizes Bullish's dedication to building a trusted, institutional-grade digital asset infrastructure. We look forward to Bullish making new contributions to this global financial hub."

On its first day of listing, the stock price soared to 118 dollars, and has now fallen to 54.35 dollars.

Bullish )BLSH( was listed on the New York Stock Exchange last month with an issuance price of 37 dollars per share, releasing a total of 30 million shares, successfully raising 1.15 billion dollars and settling entirely in stablecoins.

On its first day of listing, the stock price soared more than 150%, and then fell back. As of the time of writing, BLSH closed at $54.35.

If Bullish continues to make progress in the US business, the stock price is expected to reach 60 USD.

According to reports, the well-known research institution Bernstein began tracking Bullish last week, indicating that Bullish's stock price could reach $60. Analysts believe that if the U.S. business can progress smoothly, Bullish is expected to become the second-largest institutional crypto assets exchange after Coinbase by 2026.

)Bullish IPO raised 1.15 billion USD entirely settled in stablecoins, setting a precedent for the US financing market(

This article Bullish has obtained the New York BitLicense, Bernstein: the stock price is expected to reach 60 USD, first appeared in Chain News ABMedia.