StoneX has initiated coverage on Bullish with a $42 price target, citing the potential transformation of tokenized stock trading through the proposed $4.2 billion Equiniti acquisition.
The deal would connect Bullish to thousands of public companies by leveraging Equiniti's shareholder services and corporate registry infrastructure. That integration could broaden access to tokenized equities and bring traditional stock trading onto blockchain rails.
Bullish's tokenized securities strategy is underpinned by Solana, Ethereum, and Aptos. These Layer 1 networks are positioned as core infrastructure for issuing and settling tokenized stocks, potentially increasing network usage and adoption as the Equiniti deal develops.
The coverage from StoneX highlights growing institutional interest in regulated tokenized equity markets and suggests that exchange-linked blockchain ecosystems may benefit from the convergence of traditional finance and digital assets.
