Bullish
Regulated, institution-focused digital asset exchange listed on the NYSE (BLSH) and owner of CoinDesk.
Volume (24h)$130.63MUSDT markets tracked live
Coins73with USDT pairs
Spot / Perp markets1588 / 13tracked by ArbiLayer
Base fees0.015% / 0.015%maker / taker, futures
About Bullish
Regulated, institution-focused digital asset exchange listed on the NYSE (BLSH) and owner of CoinDesk.
Trading fees
Official fee schedule ↗SpotBase tier
Maker0%
Taker0.005%
USDT-M futuresBase tier
Maker0.015%
Taker0.015%
- Promotional and Stable Type I markets: 0% maker / 0% taker
- Token markets: -0.015% maker rebate / 0.02% taker
- Institutional clients (above 0.01% of exchange 12-month ADV) pay taker fees of 0.005%-0.025% on standard spot based on a Same Direction Score
Withdrawals: flat per asset (e.g. BTC 0.00006, ETH 0.0025, USDT 5); USD wire $30
Individual vs. institutional fee schedule
VIP program ↗Tier is based on share of exchange 12-month average daily trading volume and Same Direction Score (institutions).
TierRequirementSpot makerSpot takerFutures makerFutures taker
IndividualBelow 0.01% of exchange 12-month ADV0%0.005%0.015%0.015%
Institution (SDS < 50%)Above 0.01% of exchange 12-month ADV0%0.005%0.015%0.015%
Institution (SDS 50-100%)Above 0.01% of exchange 12-month ADV, high Same Direction Score0%—0.015%0.015%
Proof of reserves
No PoR- No Merkle-tree PoR; relies on Deloitte-audited financial statements as a NYSE-listed company
Company
Founders
BBlock.oneFounding backer (with Peter Thiel and Louis Bacon)
Leadership
BBBrendan BlumerChairman
TFTom FarleyCEO
DBDavid BonannoCFO
CTChris TyrerPresident, Bullish Exchange
Products
SpotMarginPerpetuals and dated futuresOptionsOTCCustodyIndicesCoinDesk media and data
Licences & registrations
US: NYDFS BitLicense and New York money transmission license (2025), FinCEN MSB, state money transmitter licensesGermany: BaFin authorization; EU MiCAR (Bullish Europe)Hong Kong: SFC licenceGibraltar: GFSC DLT licence
Not available in
CanadaChinaJapanIsraelRussiaIranNorth KoreaMyanmarUnited KingdomParts of the United States
Incidents & regulatory history
- 2025Listed on the NYSE (BLSH) in August; launched in 20 US jurisdictions in October after obtaining a New York BitLicense.
- 2023Acquired crypto media company CoinDesk.
- 2022Called off planned $9B SPAC merger to go public.
Volume, last 7 days
7 days agonow
Top markets
ArbiLayer does not track live markets on this exchange yet.