BLSH

Bullish

BLSH.US bullish.com + Research + Basket
ISIN KYG169101204
Employees 394
Phone 345 949 8066
Fiscal year end December
IPO Aug 13, 2025
Address Office 101, 103, 105 Suite 70202, George Town, Cayman Islands, 9005
23.13
+0.17 (+0.74%)
USD · NYSE
52-week range
20.55
48.93
Trading at 9% of the 52-week range
Market Cap
3.48B
P/E Ratio
0.00
Forward P/E
39.22
Book Value
15.92
Div. Yield
N/A
% Institutions
26.28%
% Insiders
91.12%

1 Year

-49.4%

3 Year

-37.5%

10 Year

-37.5%
Description

Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity. It also offers CoinDesk Indices, a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets to leading traditional finance institutions, including exchanges and asset managers; CoinDesk Data, a comprehensive suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics; and CoinDesk Insights offers news, analysis, information, conferences and networking opportunities related to digital assets, blockchain technology and the broader financial technology industry. Bullish was founded in 2020 and is based in George Town, Cayman Islands.

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People

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Directors & Officers

Name Title Year Born
Mr. Thomas W. Farley CEO & Chairman 1976
Mr. David Whalen Bonanno Chief Financial Officer 1981
Mr. George Gaffney Chief Operating Officer NA
Jose A. Torres Chief Accounting Officer NA
Mr. Mothusi Majinda Chief Technology Officer NA
Mr. Nicholas Armstrong General Counsel NA
Liam Foley Director of Corporate Development NA
Mr. James Mendes Chief People Officer NA
Mr. Chris Tyrer President of Bullish Exchange NA
Mr. Jay Yarow President of CoinDesk Media & Events NA

Insider Trading

Open insider trading
Date Insider Name Title Transaction Type Shares Price Value SEC
Apr 10, 2026 Thomas W Farley N/A Sale 80.00K $36.41 $2.91M SEC

Shareholders

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Institutional Holders

Holder Name Shares Date Reported % Out Value % Change
FMR Inc 10.46M Jun 30, 2026 6.90% $0.01 53.85%
ARK Investment Management LLC 6.75M Jun 30, 2026 4.45% $1.03 2.81%
Sumitomo Mitsui Trust Group Inc 4.05M Jun 30, 2026 2.67% $0.05 5.72%
Amova Asset Management Americas, Inc 4.04M Jun 30, 2026 2.66% $1.22 5.34%
Stephens Inv Mgmt Group LLC 1.36M Jun 30, 2026 0.89% $0.34 15.05%
Van Eck Associates Corporation 1.25M Jun 30, 2026 0.82% $0.02 55.77%
BlackRock Inc 1.20M Jun 30, 2026 0.79% $0.00 -39.41%
T. Rowe Price Investment Management,Inc. 1.16M Jun 30, 2026 0.77% $0.02 -11.49%
Jupiter Topco LLC 1.04M Jun 30, 2026 0.69% $0.01 0.00%
Morgan Stanley - Brokerage Accounts 664.21K Jun 30, 2026 0.44% $0.00 216.36%
UBS Group AG 659.58K Jun 30, 2026 0.43% $0.00 10.00%
Amvescap Plc. 626.13K Jun 30, 2026 0.41% $0.00 -63.03%
Galaxy Digital Inc. 625.00K Jun 30, 2026 0.41% $0.86 0.00%
Massachusetts Financial Services Company 408.87K Jun 30, 2026 0.27% $0.00 -4.92%
Southpoint Capital Advisors LP 400.00K Jun 30, 2026 0.26% $0.21 0.00%
Gotham Asset Management, LLC 347.41K Jun 30, 2026 0.23% $0.02 130.77%
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 307.50K Jun 30, 2026 0.20% $0.01 351.39%
Renaissance Technologies Corp 264.83K Jun 30, 2026 0.17% $0.01 68.86%
Rathbone Brothers PLC 251.02K Jun 30, 2026 0.17% $0.02 1.83%
Federated Hermes Inc 250.00K Jun 30, 2026 0.16% $0.01 0.00%

Fund Holdings

Rank Holder Name Shares Held % of Shares Change Date Reported
1 Fidelity Contrafund 6.48M 4.28% ▼ 0.03% Aug 31, 2026
2 ARK Innovation ETF 3.89M 2.56% ▼ 3.15% Oct 29, 2026
3 Amova ARK Disruptive Innovation A USD 1.77M 1.16% ▼ 3.47% Sep 30, 2026
4 Fidelity Contrafund K6 1.44M 0.95% ▼ 0.24% Aug 31, 2026
5 Janus Henderson Contrarian D 940.86K 0.62% ▼ 9.61% Aug 31, 2026
6 ARK Next Generation Technology ETF 812.73K 0.54% ▲ 3.29% Oct 29, 2026
7 ARK Blockchain & Fintech Innovation ETF 726.84K 0.48% ▲ 0.00% Oct 29, 2026
8 Invesco CoinShares Global Blockchain ETF 710.11K 0.47% ▲ 0.00% Oct 29, 2026
9 VanEck Crypto&Blckchan Innovtr ETF A USD 701.79K 0.46% ▲ 0.00% Oct 29, 2026
10 T. Rowe Price Mid-Cap Growth 634.68K 0.42% ▲ 0.00% Sep 30, 2026

Financial Highlights

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Market Cap: $3.48B
EBITDA: $-794.55M
Book Value: $15.92
Earnings/Share: $-9.70
Profit Margin: 0.00%
Operating Margin: -314.27%
ROA (TTM): -15.71%
ROE (TTM): -57.07%
Revenue (TTM): $300.72M
Revenue/Share (TTM): $2.05
Earnings Growth (YOY): 0.00%
Revenue Growth (YOY): 68.80%

Valuation Metrics

Enterprise Value: $2.67B
Trailing P/E: 0.00
Forward P/E: 39.22

Shares Statistics

Shares Outstanding: 151.65M
Shares Float: 38.69M
% Insiders: 91.12%
% Institutions: 26.28%
Shares Short: 6.94M
Shares Short (Prior Month): 7.58M
Short Ratio: 5.49
Short % Float: 13.83%

Stock Price History

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1 Year Price History

3 Years Price History

10 Years Price History

Max Price History

Financial Charts

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Open balance sheet Open capital intensity Download Financials (Excel)

Revenue, Net Income & Operating Cash Flow (Yearly)

Change % vs Prior Year

Revenue, Net Income & Operating Cash Flow (Quarterly)

Change % vs Prior Quarter

Operating Expenses (Yearly)

Operating Expenses (Quarterly)

Balance Sheet (Yearly)

Balance Sheet (Quarterly)

Assets Breakdown (Yearly)

Assets Breakdown (Quarterly)

Liabilities Breakdown (Yearly)

Liabilities Breakdown (Quarterly)

Income Statement Waterfall

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Open full waterfall Open balance sheet
Line Item
Step Type
Value
Revenue
adjust
$244.97B
Cost of Goods Sold
adjust
$-244.90B
Gross Profit
subtotal
$74.08M
SG&A
adjust
$-48.99M
Operating Income
subtotal
$50.66M
Other / Non-Operating Items
adjust
$-815.34M
Net Income
subtotal
$-764.68M

Earnings Per Share (EPS) History

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Financial Ratios

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📦 Raw API Data (JSON Explorer)

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