BULLISH ( BLSH ) REVENUE ROSE 62 % AS TRADING COOLED , BUT IS TOKENIZATION PRICED IN ?

What happened: Bullish (NYSE:BLSH) and Equiniti are due to meet issuers and capital-market leaders at the New York Stock Exchange next week through the Issuer Sponsored Token Coalition they launched in late September. Key numbers: Q2 adjusted revenue rose 62% to $92.6 million from $57.0 million. Why it matters: The finance chief has said tokenized equities won't add much to transaction revenue until 2027, and the Equiniti purchase is expected in January 2027 subject to approvals, so the valuation leans on a payoff that has not arrived.

Bullish (NYSE:BLSH) and Equiniti are due to meet issuers and capital-market leaders at the New York Stock Exchange next week through the Issuer Sponsored Token Coalition they launched in late September.

The finance chief has said tokenized equities won't add much to transaction revenue until 2027, and the Equiniti purchase is expected in January 2027 subject to approvals, so the valuation leans on a payoff that has not arrived.