Bullish bitcoin holdings
The Peter Thiel-backed exchange operator and CoinDesk owner, which disclosed a 24,000 bitcoin balance when it filed to go public.
Key figures
- Bitcoin held
- 24,000 BTC
- As of
- 2025-07-18
- Rank
- 6 of 165
- Value at current price
- $1.5B
- Share of 21 million
- 0.11%
Holdings over time
Cumulative bitcoin held after each disclosed event. The line steps rather than slopes because treasury positions change on purchase dates, not continuously.
We have one sourced disclosure for Bullish so far, shown in the table below. A chart needs at least two dated points, and we would rather show nothing than draw a trend through a single figure. This fills in as we backfill the company's earlier announcements.
Every disclosure we have
| Date | Event | Change | Total held | Note | Source |
|---|---|---|---|---|---|
| 2025-07-18 | Reported | 24,000 | F-1 IPO filing for the NYSE listing under BLSH. Over 24,000 bitcoin in liquid assets as of March 31, 2025, including coins on loan and holdings in bitcoin funds and ETPs. | cnbc.com |
About Bullish
Bullish runs an institutional cryptocurrency exchange and owns CoinDesk. It disclosed roughly 24,000 bitcoin among more than three billion dollars of liquid assets in the filing for its 2025 New York Stock Exchange listing, which is the clearest per-coin figure the company has published.
Since listing it has generally reported aggregate liquid assets rather than a fresh bitcoin count, so there is no regular disclosure cadence to track. That is why the date attached to this figure is older than most of the list, and why we have not carried it forward.
The company is incorporated in the Cayman Islands, which is where we place it geographically, though its operations and listing are international. As an exchange operator it also custodies customer assets, and those are not counted here.
Frequently asked questions
Does this include bitcoin Bullish holds for customers?
No. Customer assets belong to the customers, not the company. The figure here is the corporate balance disclosed in its listing documents, and we exclude custodied client holdings for every exchange on this list.
Compared with its neighbours
Sources
Holdings figures and their dates come from the disclosures linked in the history table above. Read the full methodology.