Bullish

Bullish announced it will release its second quarter 2026 financial results on Thursday, August 13, 2026. The company will also host an earnings conference call at 8:30 a.m. Eastern Time on the same day, with a live webcast available on its Investor Relations website. Additionally, Bullish provided its fully diluted outstanding shares, which are 160,673,515 based on a Q2 average price of $34.77 and 159,641,222 based on the June 30, 2026 close price of $23.43.

Bullish announced it has received necessary competition law clearances from the United Kingdom, the United States, and Germany for its planned $4.2 billion acquisition of Equiniti. This marks a significant step towards completing the transaction, which is expected to close in January 2027. In parallel, Bullish and Equiniti expect to negotiate definitive documents to effect the carve-out of Equiniti's non-core business lines.

Bullish announced that its planned $4.2 billion acquisition of Equiniti has received necessary competition law clearances from the United Kingdom, the United States, and Germany. Additionally, an affiliate of Siris has exercised its option to acquire Equiniti's non-core business lines, including EQ Retirement Solutions, EQ Customer Resolutions, and Lenvi. The acquisition, which aims to combine Equiniti's issuer relationships with Bullish's blockchain platform, is still subject to remaining regulatory approvals and customary closing conditions, with closing anticipated in January 2027.

Bullish announced the appointment of Thomas Cowan as Head of Tokenization, a strategic move to lead the company's tokenization strategy. Cowan brings extensive experience from Galaxy, where he pioneered institutional tokenization initiatives, and from Paxos and the Federal Reserve Bank of Boston. This appointment builds on Bullish's recent acquisition agreement for Equiniti for $4.2 billion and regulatory approval from the GFSC to offer tokenized securities trading, positioning the company as a key player in tokenized securities infrastructure.

Bullish released its monthly metrics for June 2026, providing key performance indicators for its digital asset platform. The report detailed trading volume, average trading spread, and volatility for Bitcoin and Ethereum. Total trading volume for June 2026 reached $50.9 billion, with spot trading contributing $45.5 billion.

Bullish announced it has received approval from the Gibraltar Financial Services Commission (GFSC) to offer trading in tokenized securities. This approval positions Bullish among the first regulated venues globally to offer trading in issuer-sponsored tokenized securities, building on a collaboration with the GFSC that began in 2025. The company aims to bring efficiencies like 24/7 trading and near-instant settlement to securities markets within a robust, supervised framework. This regulatory milestone follows Bullish's May 2026 agreement to acquire Equiniti, a leading transfer agent, as part of its broader strategy to build end-to-end infrastructure for tokenized securities.

Bullish released its monthly metrics for May 2026, reporting a total trading volume of $32.9 billion, a 30% decrease from $46.9 billion in April 2026 and a 48% decrease from $63.4 billion in May 2025. Spot trading volume also declined to $30.0 billion. The average trading spread increased to 2.23 bps, while monthly average volatility for Bitcoin and Ethereum decreased to 28% and 36% respectively.

Bullish announced a definitive agreement to acquire Equiniti for $4.2 billion, aiming to create a fully integrated blockchain-enabled issuer services provider. For Q1 2026, the company reported a net loss of $(604.9) million, but saw adjusted revenue increase to $92.8 million and adjusted EBITDA rise to $35.1 million. Bullish Options Trading volume grew to $11.6 billion, achieving 14% market share in April 2026.

Bullish announced it has filed applications with the U.S. Commodity Futures Trading Commission (CFTC) for designation as a Designated Contract Market (DCM) and for registration as a Derivatives Clearing Organization (DCO). These applications are now undergoing the agency's standard review process. Bullish is an institutionally focused global digital asset platform, operating Bullish Exchange and being the parent company of CoinDesk.

Bullish released its monthly metrics for April 2026, reporting a significant decline in total trading volume to $46.9 billion, a 22.3% decrease from March 2026. Spot trading volume also fell substantially to $38.0 billion. While options trading volume saw an increase, perpetual trading volume decreased. The average trading spread slightly widened, and volatility for both Bitcoin and Ethereum declined month-over-month.