Bullish (NYSE: BLSH) announced today that it will launch crypto options trading on its regulated exchange on October 8. The new product will be supported by a consortium of leading day‑one trading partners, including Galaxy, Flow Traders, and FalconX. The announcement positions Bullish as a full‑suite derivatives venue for institutional investors.
The options contracts will be settled in USDC and will benefit from Bullish Portfolio Margining (BPM), a risk‑sensitive, scenario‑based margin methodology that allows clients to use their entire portfolio as collateral across spot, futures, and options. The platform already offers Bitcoin options in a limited mobilization phase, with plans to add Ether, other single assets, and multi‑asset indices such as the CoinDesk 20 and CoinDesk 5. The launch is expected to deepen liquidity and improve price discovery for institutional traders.
Since its launch in November 2021, Bullish has surpassed $1.5 trillion in cumulative trading volume and averages over $2 billion in daily volume in 2025, ranking in the top ten exchanges for Bitcoin and Ether spot volume. Adding options expands the firm’s fee‑earning opportunities and strengthens its competitive position against other regulated exchanges. The move is a key milestone in Bullish’s strategy to become the preferred institutional gateway for digital assets.
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