Bullish Q3 financial report: Adjusted revenue of $76.5 million, digital asset sales of $4.16 billion

According to a report by Businesswire, the digital asset trading platform Bullish announced its financial performance for the third quarter ending September 30, 2025, with record highs in adjusted revenue, adjusted EBITDA, and adjusted net profit for the quarter.

Specifically, its digital asset sales for the quarter were $41.6 billion, compared to $54.2 billion in the same period of 2024. The net profit (loss) was $18.5 million, while the loss in the same period of 2024 was $67.3 million. Adjusted revenue was $76.5 million, compared to $44.6 million in the same period of 2024. Adjusted trading revenue was $26.7 million, compared to $32.9 million in the same period of 2024. Adjusted net profit was $13.8 million, compared to a loss of $3.1 million in the same period of 2024. Adjusted EBITDA was $28.6 million, compared to $7.7 million in the same period of 2024. During the quarter, Bullish launched crypto options, with recent trading volume surpassing $1 billion.

In addition, Bullish disclosed that its spot trading volume so far in the fourth quarter has increased by 77% compared to the third quarter.