Bullish

BLSH

Market cap $4.13B

Cryptocurrency markets began soaring following the 2024 U.S. presidential election, reaching new all-time highs in August 2025 as the crypto-friendly Trump administration began implementing policies. But this summer has been anything but sunny for crypto markets.

CAYMAN ISLANDS--(BUSINESS WIRE)--Bullish (NYSE: BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services, released its monthly metrics for May 2026 on Monday, June 8, 2026. Monthly Metrics Report for May 2026 (Unaudited)   2025 2026 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May (B - in billions)                                   Trading Volume ($B)                                   Spot - BTC 34.6 30.9 43.

The next phase of crypto's public-market pitch is less about token prices and more about financial infrastructure. As trading revenue slows, companies including Coinbase, Robinhood, Circle, Bullish and Gemini are trying to show they can own the systems that issue, trade, settle and record assets.

Shares of cryptocurrency exchange and blockchain technology company Bullish (NYSE:BLSH) tanked Friday morning, after the company on Thursday reported its first-quarter results.

Bullish (NYSE:BLSH) on Thursday reported worse-than-expected first-quarter results.

Bullish NYSE: BLSH executives used the company's first-quarter 2026 earnings call to frame its planned acquisition of Equiniti Group as a major strategic shift toward tokenized securities, while also reporting year-over-year revenue and profitability gains despite weaker digital asset prices.

Bullish (BLSH) Q1 2026 Earnings Call Transcript

CAYMAN ISLANDS--(BUSINESS WIRE)--Bullish (NYSE: BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services, today announced financial results for the first quarter ended March 31, 2026. Tom Farley, CEO: “We're pleased with our Q1 results and we're even more excited about what comes next. With the proposed acquisition of Equiniti, we will have all three elements required to become a powerhouse leading the blockchain era: end-to-en.

Bullish accelerates its global digital asset platform strategy with a $4.2B acquisition of Equiniti, a key regulated crypto transfer agent. The deal positions BLSH to become the first fully integrated, blockchain-enabled global transfer agent for tokenized securities and expands its blockchain-native infrastructure. The company is seeing positive EPS revision momentum ahead of its Q1'26 report on May 14, 2026.

Circle Internet Group has raised $222 million in the presale of a token tied to its new Arc blockchain, giving the network a fully diluted network valuation of $3 billion. Andreessen Horowitz led the investment.