Exchanges· ★★★· bullish·

Bullish clears longest-dated bitcoin options trade, expiring in 2028

  • —The BTC options contract expiring January 28, 2028, carries roughly 2.5 years of forward exposure
  • —Bullish launched its bitcoin options product on October 8, 2025, margined and settled in USDC
  • —By early 2026 the exchange ranked second in bitcoin options open interest, ahead of OKX, Binance and CME
  • —Peak open interest reached $3–4 billion, with single-day volumes topping $1 billion
Why it matters: The record expiry signals institutional appetite for multi-year bitcoin exposure and intensifies Bullish's competition with Deribit in crypto options.
#BTC
Source: Crypto Briefing
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