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Bullish is introducing a new service targeted at institutional clients.
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Starting next week, users will be able to engage in crypto options trading.
Bullish (NYSE: BLSH), a relatively new player in the cryptocurrency market, experienced a notable gain on Thursday, with its stock price climbing nearly 12%. This surge came on the heels of an announcement about a new trading capability, especially impressive given the modest uptick in the S&P 500 (SNPINDEX: ^GSPC) for that day.
After market hours, Bullish revealed plans to introduce crypto options on its trading platform, set to start next Wednesday, October 8. This initiative will be supported by several partners in the finance sector, including Abraxas Capital Management, Flow Traders, and FalconX, and is specifically designed for institutional investors.
Initially, users on the platform will be able to trade in Bitcoin options, with plans to eventually include derivative trading for altcoins as well.
In a press release detailing the new offering, Bullish Exchange President Chris Tyrer stated, “This initiative goes beyond simply introducing a new product; it aims to provide a comprehensive derivatives product suite, ensuring market-leading capital efficiency and risk management, all accessible via a unified trading account.”
Bullish emphasized its success since launching its platform in late 2021, noting that it has surpassed a cumulative trading volume of $1.5 trillion. Furthermore, it claims to rank among the top 10 crypto exchanges based on spot trading volume for Bitcoin, alongside its position as the second-largest exchange for Ethereum.
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