August has traditionally been a quieter time for initial public offerings as bankers head out of the office for summer vacations. But with the stock market and bitcoin climbing to record highs, those bankers are giving up their summer breaks so they can be a part of the hottest IPO market in four years.

Bullish, a crypto exchange operator, stunned the market with a 90% rise in its stock price during its IPO, surpassing a $10 billion market cap. The company's strong institutional backing and the bullish trend in cryptocurrency paved the way for its explosive debut.