Bullish Launches Institutional Crypto Spot Trading in the U.S. with NYDFS Approval

Bullish (BLSH), the crypto exchange platform, has officially launched spot trading in the United States after securing both a BitLicense and a money transmission license from the New York State Department of Financial Services (NYDFS). With this regulatory approval, Bullish now offers trading in 20 U.S. states and territories, including major markets such as California, New York, Florida, and Washington, D.C.

Though new to American traders, Bullish has been active internationally since late 2021, processing over $1.5 trillion in cumulative trading volume. The exchange, which went public on the New York Stock Exchange (NYSE) in August, is currently trading at $63.36 per share, about 70% above its IPO price. Notably, Bullish also owns CoinDesk, further strengthening its position in the global digital asset ecosystem.

The platform is designed for institutional clients, offering a hybrid trading model that combines a central limit order book with automated market making (AMM). This structure aims to provide deeper liquidity, better execution, and more stability, especially during volatile market conditions. Bullish also emphasizes its full-reserve custody standards, ensuring client funds are securely held, which aligns with growing regulatory demands in the U.S. market.

Chris Tyrer, president of Bullish Exchange, highlighted the company’s mission to provide U.S. institutions with “better execution, deeper liquidity, and platforms built for their strategies.” With institutional adoption of crypto accelerating, platforms like Bullish are positioning themselves as compliant, reliable gateways for advanced traders.

Bullish’s expansion into the U.S. signals a stronger regulatory foundation for digital assets. Even traditional financial giants such as Vanguard, historically cautious toward crypto, are reportedly reconsidering their stance. As confidence grows, Bullish’s entry underscores the increasing demand for institutional-grade performance and compliance-driven crypto platforms in America.