Bullish Stock Rises Premarket On Crypto Options Launch Plan — Traders Call It The “Home Depot Of Crypto”

Bullish’s stock gained nearly 3% in premarket trading on Wednesday after the institutional-focused digital asset platform announced the launch of crypto options trading on October 8, expanding its suite of regulated derivatives offerings.

The company stated that the new product will enable institutional customers to trade options alongside its existing lineup of spot, margin, perpetual futures, and dated futures, all through a single trading account. 

Bullish, which owns the CoinDesk media outlet, said the expansion was developed in partnership with leading market makers and institutional trading firms, including Galaxy Digital, Flow Traders, FalconX, B2C2, and Wintermute, among others.

Flow Traders’ Co-Chief Trading Officer Marc Jansen said that Bullish’s unified margin model “meaningfully enhances” its derivatives offering, while FalconX’s Global Co-Head of Markets Ravi Doshi said the company will bring “sharp pricing and deep liquidity from day one.”

Bullish said options trading will start with Bitcoin contracts, settled in USDC, and will later expand to Ether and multi-asset indices such as the CoinDesk 20 and CoinDesk 5.

The company noted that its Bullish Portfolio Margining (BPM) system will let clients use their full portfolios as collateral across products, improving capital efficiency and risk management.

Since its 2021 debut, Bullish has surpassed $1.5 trillion in total trading volume and now averages over $2 billion in daily volume, ranking among the top ten exchanges globally for Bitcoin and Ether spot trading.

On Stocktwits, retail sentiment for Bullish was ‘bearish’ amid ‘extremely low’ message volume.

One user said Bullish could become the “Home Depot of crypto,” while another called the announcement a major milestone and urged traders to keep buying before a big move higher. 

A third user said it was time to “make money again,” echoing the upbeat mood among retail investors.

Bullish (NYSE: BLSH) made a strong public debut on Aug. 13, with shares surging 176% in their first trading day on the New York Stock Exchange. The stock opened at $90, well above its $37 IPO price, after the company raised $1.1 billion in an oversubscribed offering that valued the crypto exchange at over $13 billion. 

Trading was briefly halted twice due to high volatility. The shares have since pulled back from their debut highs as market activity normalized.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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