Bullish (NYSE: BLSH) reported total trading volume of $32.9 billion for May 2026, according to monthly metrics released June 8. The digital asset platform's spot trading accounted for $30.0 billion of the total volume, while options trading contributed $0.9 billion and perpetual futures trading added $2.0 billion.

Bitcoin spot trading generated $16.8 billion in volume during May, while Ethereum spot trading reached $3.4 billion. Stablecoin trading volume totaled $7.4 billion, with other digital assets accounting for $2.5 billion in spot trading volume.

The company's average trading spread for May was 2.23 basis points, compared to 1.95 basis points in April. Spot trading spreads averaged 2.40 basis points, while options spreads were 1.65 basis points. Perpetual futures showed negative spreads of 0.12 basis points.

Monthly average volatility for Bitcoin was 28% in May, down from 35% in April. Ethereum volatility decreased to 36% from 44% in the previous month.

The May trading volume of $32.9 billion represents a decrease from April's $46.9 billion. Year-to-date, Bullish has processed $276.5 billion in total trading volume across its platform.

Bullish operates as an institutionally focused global digital asset platform providing regulated market infrastructure and information services. The company is also the parent of CoinDesk, which provides digital asset media and information services.