Bullish, an institutionally focused global digital asset platform that provides market infrastructure and information services, announced the upcoming launch of crypto options trading expected on October 8, bolstered by a consortium of leading day-one trading partners. This new offering will further enhance Bullish’s ecosystem of crypto derivatives, providing institutional customers with a comprehensive product suite encompassing spot, margin, perpetual futures, dated futures, and now, options.

“Bullish is investing significantly in its institutional offering,” said Chris Tyrer, President of Bullish Exchange. “Our journey began with spot trading, expanded to include margin, then perpetual and dated futures, and now reaches a new milestone with the introduction of options. This is not just about adding a new product, it’s about delivering a complete derivatives product suite with market leading capital efficiency and risk mitigation, all accessible through a single, unified trading account.”

‍Day-one options trading partners

Through close collaboration in the design phase with the industry’s largest options market-makers, risk takers, technology providers, and brokers, Bullish has built a product that aims to resolve the pain points that exist today in trading crypto options. The result is a solution tailored to meet institutional needs, with confirmed day-one trading partners including:

• Abraxas Capital Management
• Ampersan
• B2C2
• BlockTech
• Cumberland
• FalconX
• Fig Markets
• Flow Traders
• Galaxy Digital
• Monarq Asset Management
• Pulsar
• SignalPlus
• Wintermute
• Qube Research & Technologies

This strategic expansion equips Bullish’s customers outside the U.S. with complementary derivative instruments, giving them more opportunities to exchange and tailor risk. By providing a regulated, and capital-efficient venue for options trading beginning with Bitcoin options, Bullish seeks to solve a key market demand, as demonstrated by the early adoption of leading trading partners.

“Galaxy is excited to support the next chapter of Bullish’s journey,” said Jason Urban, Global Head of Trading at Galaxy. “The addition of options to its product suite is a strong step forward – enhancing liquidity, deepening price discovery, and strengthening the overall maturity of the crypto derivatives market.”

“Flow Traders has been closely observing Bullish’s evolving ecosystem, and the addition of options meaningfully enhances their derivatives offering. Bullish’s regulated platform offers unified margins across spot, futures, and options, allowing us to optimize risk and capitalize on trading opportunities. Partnering on day one aligns with our strategy to bridge traditional and digital markets ensuring resilient, always-on liquidity for institutional counterparties,” said Marc Jansen, Co-Chief Trading Officer, Flow Traders.

“As one of the largest block options liquidity providers in digital assets, FalconX is pleased to support Bullish’s launch. Our deep experience making markets in crypto derivatives offers Bullish’s institutional clients access to sharp pricing and deep liquidity from day one,” said Ravi Doshi, Global Co-Head of Markets, FalconX.

‍The Bullish advantage

Consistent with Bullish’s perpetuals and dated futures product, options contracts are settled in USDC. They also benefit from Bullish Portfolio Margining (BPM), a bespoke, risk-sensitive, scenario-based margin methodology aligned to industry best practices, designed for better risk management and greater capital efficiency.

Consequently, customers can leverage their entire portfolio as collateral across spot, futures, and options within a unified trading account, reducing margin requirements and unlocking greater capital efficiencies. Currently live with Bitcoin options in a limited mobilization phase, options on Ether, other single assets, and multi-asset indices such as the CoinDesk 20 and CoinDesk 5, are in the pipeline.

Since its launch in November 2021, Bullish has surpassed $1.5 trillion in cumulative trading volume. In 2025, the platform executes over $2 billion in average daily volume and ranks in the top ten exchanges by spot volume for Bitcoin and Ether. Bullish has become a top-tier, institutionally-focused digital assets exchange, that offers best execution in crypto’s biggest assets and deep, deterministic liquidity from its automated market maker. The business is licensed by the New York State Department of Financial Services, German Federal Financial Supervisory Authority, Hong Kong Securities and Futures Commission, and the Gibraltar Financial Services Commission.

Source: Bullish