Bullish to launch crypto options trading with top-tier partners

SINGAPORE - Digital asset platform Bullish (NYSE:BLSH), a prominent player in the Capital Markets industry with a market capitalization of $9.3 billion, announced it will launch crypto options trading on October 8, expanding its derivatives ecosystem with support from a consortium of trading partners. According to InvestingPro data, the stock has shown high price volatility, making it an interesting player in the derivatives space.

The new offering will complement Bullish’s existing product suite that includes spot, margin, perpetual futures, and dated futures trading, allowing institutional customers to access all products through a unified trading account. With analyst price targets ranging from $55 to $70, market expectations remain mixed about the company’s expansion strategy.

"Bullish is investing significantly in its institutional offering," said Chris Tyrer, President of Bullish Exchange. "This is not just about adding a new product, it’s about delivering a complete derivatives product suite with market leading capital efficiency."

The company has secured participation from several day-one trading partners including Flow Traders, Galaxy Digital, FalconX, Cumberland, and Wintermute, among others.

The options contracts will be settled in USDC and will benefit from Bullish Portfolio Margining, a risk-sensitive margin methodology designed to improve capital efficiency by allowing customers to use their entire portfolio as collateral across different trading products. The company’s strong liquidity position, evidenced by a current ratio of 24.59, supports its ability to manage settlement operations effectively.

Initially launching with Bitcoin options, Bullish plans to add options on Ether and other assets, including multi-asset indices such as the CoinDesk 20 and CoinDesk 5.

Since launching in November 2021, Bullish has processed over $1.5 trillion in cumulative trading volume. In 2025, the platform executes over $2 billion in average daily volume and ranks among the top ten exchanges by spot volume for Bitcoin and Ether, according to the press release. For deeper insights into Bullish’s financial health and growth metrics, InvestingPro subscribers can access comprehensive analysis and 8 additional ProTips in our detailed research report.

The company holds regulatory licenses from authorities in New York, Germany, Hong Kong, and Gibraltar. The options trading service will be available to institutions outside the United States.

In other recent news, Bullish has launched its spot trading services in the United States, now operating in 20 states after receiving regulatory approvals from New York state authorities. The company secured a BitLicense and Money Transmission License from the New York State Department of Financial Services, enabling operations in states like New York, California, and Florida. Following this regulatory milestone, Compass Point raised its price target for Bullish to $56, maintaining a Neutral rating, citing the approval as a significant step for U.S. expansion. Rosenblatt Securities also increased its price target to $62, maintaining a Buy rating, highlighting Bullish’s first quarterly earnings report and the growth in stablecoin activity that contributed to revenue growth.

Cantor Fitzgerald raised its price target to $59, maintaining an Overweight rating, based on Bullish’s successful first quarter as a public company and its guidance for higher revenue and adjusted EBITDA for the third quarter of 2025. Additionally, Canaccord Genuity reiterated its Buy rating with a $68 price target, emphasizing Bullish’s solid progress since its initial public offering and the strategic value of the BitLicense. These developments reflect the company’s ongoing efforts to expand its market presence and enhance its financial performance.

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