coin-img-ETHETH-2.19%coin-img-BTCBTC-2.04%coin-img-SOLSOL-4.52%coin-img-XRPXRP-2.84%coin-img-UCNUCN+0.41%coin-img-USDCUSDC-0.05%coin-img-ASTERASTER-4.95%coin-img-DOGEDOGE-6.98%coin-img-ETHETH-2.19%coin-img-BTCBTC-2.04%coin-img-SOLSOL-4.52%coin-img-XRPXRP-2.84%coin-img-UCNUCN+0.41%coin-img-USDCUSDC-0.05%coin-img-ASTERASTER-4.95%coin-img-DOGEDOGE-6.98%coin-img-ETHETH-2.19%coin-img-BTCBTC-2.04%coin-img-SOLSOL-4.52%coin-img-XRPXRP-2.84%coin-img-UCNUCN+0.41%coin-img-USDCUSDC-0.05%coin-img-ASTERASTER-4.95%coin-img-DOGEDOGE-6.98%coin-img-ETHETH-2.19%coin-img-BTCBTC-2.04%coin-img-SOLSOL-4.52%coin-img-XRPXRP-2.84%coin-img-UCNUCN+0.41%coin-img-USDCUSDC-0.05%coin-img-ASTERASTER-4.95%coin-img-DOGEDOGE-6.98%
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Liam 'Akiba' Wright

Crypto IPO Wave Clusters Around Bitcoin's $126K Peak—Echoing 2021 Cycle Pattern

Multiple cryptocurrency companies have launched or filed for public listings near Bitcoin's recent all-time high, repeating a pattern seen in previous market cycles. Bullish debuted on August 13, 2025, and Figure priced its IPO on September 10, 2025—both within weeks of Bitcoin's October 6 peak near $126,198. Grayscale filed publicly on November 13, 2025, roughly 38 days after that top, reporting $318.7 million in revenue and $203.3 million in net income for the first nine months of 2025.
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