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July 19, 2025
Bullish files registration statement for proposed initial public offering
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The standard for institutional crypto trading.

With near-zero spreads and low fees, Bullish puts performance and security first. Best-in-class for institutions, now available for serious traders.
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TOTAL Global Trade Volume (24h)
View MARKETS
High-efficiency crypto trading for
BTC, ETH, and other digital assets.
Start trading with 0 fees
on individual accounts
No maker fees
0-0.03% taker fees
Fee schedule
Our largest markets.
EXPLORE ALL MARKETS
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Markets shown above reflect 24h volume data over US$1,000 for Bullish globally. Not all digital asset products may be available in all locations. Content is for informational purposes only, and is not investment advice.

Last Updated:July 24, 2025
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Margin trading
Capital-efficient
borrowing, on demand.
Auto-borrow ("borrow-to-trade") when needed. Auto-repay to minimize funding costs.
Learn more
Spot trading
Minimal slippage with near-zero spreads.
Best-in-class order matching engine. Fully automated execution—no manual intervention. Matching on a price (per tick) and time priority.
Start Trading
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Access our api
Gain access to a range of trading features by connecting to the Bullish API.

Trade with REST and FIX.

Place AMM Instructions with REST.

Monitor markets and private data with REST and Websocket.

API Docs
Secure by design.
Bullish’s hardware, software, and operational safeguards ensure platform security and the safety of customer funds. We operate as a full reserve exchange, ensuring that customer assets are consistently maintained in a 1:1 ratio and segregated from Bullish assets.
Robust custody architecture.
Assets held 1:1.
Hands off customer assets.
Regulated.
Registered as a MSB with FinCen and applying for individual state MTL and virtual currency licenses. See Licenses & Disclosures for a list of our licensed jurisdictions.
Compliant.
We conduct rigorous customer due diligence through mandatory KYC/ KYB verification, regular AML checks, and consistent transaction and trade monitoring.
Secure.
Bullish leverages industry leading technology and operational procedures developed by security and custody experts to ensure customers’ digital assets remain secure.
Institutional trader?
Connect with a relationship manager.
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Bullish is ranked top-five global spot trading venue for
BTC.
Source: CoinMetrics.
Start Trading
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Copyright © 2025 Bullish Global. All rights reserved.

Visit trust and legal for more important information and risk warnings.

DE The information on this website is aimed solely at qualified investors in Hong Kong. It is not intended for use by any other type of investor. By agreeing to access the information contained on this website, you are deemed to be representing and warranting that you are (1) a person falling under paragraphs (a) to (i) of  the definition of “professional investor” in section 1 of Part 1 of Schedule 1 to the  Securities and Futures Ordinance; or (2) a person within the meaning of section 4, 6  (other than a person referred to in section 6(b)(ii)) or 7 of the Securities and Futures  (Professional Investor) Rules. Important note: Only spot trading in select markets is available in Hong Kong for qualified investors. Bullish (GI) Limited (CE BTW125) has not been licensed by the Securities and Futures Commission and may not eventually be granted a licence as the Commission may refuse its licence application or its application may be withdrawn. It is only deemed to be licensed under the Anti-Money Laundering and Counter Terrorist Financing Ordinance.

I agree

The information on this website is aimed solely at qualified investors in Hong Kong. It is not intended for use by any other type of investor. By agreeing to access the information contained on this website, you are deemed to be representing and warranting that you are (1) a person falling under paragraphs (a) to (i) of  the definition of “professional investor” in section 1 of Part 1 of Schedule 1 to the  Securities and Futures Ordinance; or (2) a person within the meaning of section 4, 6  (other than a person referred to in section 6(b)(ii)) or 7 of the Securities and Futures  (Professional Investor) Rules. Important note: Only spot trading in select markets is available in Hong Kong for qualified investors.

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Bullish exchange is not available in your location.

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Bullish does not offer services to persons located in Canada, China, Japan, Israel, The Russian Federation or any jurisdiction subject to sanctions. Users from these locations are advised that their access to this website falls outside our Site Terms of Use. In the United States, services are available only to eligible users in the States listed in our U.S.Terms of Service.

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Services are available in the United Kingdom only to investment professionals or high net worth entities, as defined in sections 19 and 49 of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 (as amended).

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