Much of the recent success of crypto has been driven largely by increasing adoption among institutional investors. Unlike its retail-focused peers, Bullish aims to provide mainly Bitcoin and Ethereum trading for institutional clients, limiting its exposure to riskier altcoins. This could help it stand out in a crowded market.

Hoping to follow the blockbuster initial public offerings of peer crypto companies Circle (CRCL) and eToro (TORO), Peter Thiel-backed Bullish is set to make its debut and could start trading as soon as today,