New York Stock Exchange (NYSE) welcomes Miami-based MIAX Exchange Group for public listing, announcing plans for a September expansion of their trading floor in Miami
Miami International Holdings Soars After Successful IPO
Miami International Holdings (MIAX), a technology-driven leader in building and operating regulated financial marketplaces, has seen a significant rise in its stock price since its initial public offering (IPO) in early August 2025. The company, which operates various trading exchanges for options, equities, futures, and international products, went public with an IPO price of $23.00 per share. Since then, its stock price has climbed to around $33.90 as of mid-August 2025, reflecting strong market interest.
The company's CEO, Thomas Gallagher, led his team in ringing the opening bell on the NYSE floor to mark the occasion. MIAX's stock market debut raised over $345 million, with the IPO proceeds being earmarked for general corporate purposes.
MIAX's market capitalization is approximately $3 billion, with trailing twelve-month revenue of $1.26 billion and a modest net income of $1.79 million. A significant portion of its revenue is paid back to traders as liquidity payments, which helps sustain trading volumes on its platforms.
Despite not operating or trading exchange-traded funds (ETFs) itself, MIAX does trade options on ETFs, including popular ones like the iShares Bitcoin Trust ETF, iShares Ethereum Trust, Grayscale Ethereum Mini Trust, and Bitwise Ethereum ETF. The total options volume across all classes for MIAX rose 42.9% year-over-year to a record 1.1 billion contracts.
MIAX's current market share sits at 16.2%. In September, the company is planning to open a state-of-the-art trading floor in Miami. The company is listed on the New York Stock Exchange under the ticker MIAX.
It's important to note that MIAX is not related to the airline company JetBlue or the Social Security updates on cost-of-living estimates. The company operates in multiple asset classes, including U.S. options, equities, futures, and listings.
MIAX believes that its speed and performance, coupled with its fully integrated, award-winning customer service, set it apart from its competitors. The company's marketplaces are enabled by its in-house-built, proprietary technology.
In summary, while MIAX has performed well financially and stock price-wise shortly after its IPO, it is focused on operating financial exchanges rather than trading ETFs directly. Some of the ETF options tickers traded by MIAX include IBIT (ISHARES BITCOIN TRUST - USD ACC), ETHE (GRAYSCALE ETHEREUM MINI TRUST [ETH]), and ETHA (ISHARES ETHEREUM TRUST NPV).
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