The substantial increase in trading volume suggests growing platform adoption and could indicate higher transaction fee revenue. Traders should monitor whether this volume trend continues in April and whether higher volatility persists, as both could impact near-term financial performance.
Price Chart
Executive Summary
Bullish released its unaudited monthly metrics for March 2026, showing a significant increase in total trading volume to $84.1 billion, up from $60.4 billion in February. The report also includes data on average trading spreads and volatility for key cryptocurrencies.
Key Facts
- Total trading volume reached $84.1 billion in March 2026, up from $60.4 billion in February 2026
- Spot trading volume was $77.4 billion, with BTC spot volume at $41.8 billion and ETH spot volume at $19.0 billion
- Perpetual futures trading volume increased to $4.4 billion from $3.1 billion in February
- Average trading spread for spot trades was 2.22 bps, up slightly from 2.01 bps in February
- BTC volatility increased to 61% annualized from 48% in February, while ETH volatility rose to 82% from 46%
Financial Impact
Trading volume increased by $23.7 billion (39% growth) month-over-month
Risk Factors
- The metrics are preliminary and unaudited
- Increased volatility could lead to higher risk exposure
- Volume growth may not translate directly to proportional revenue growth if trading spreads compress
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001437749-26-011680 |
| Exhibit: ex_931556.htm | 0001437749-26-011680 |
| Document: blsh20260311_6k.htm | 0001437749-26-011680 |
| Document: 0001437749-26-011680-index-headers.html | 0001437749-26-011680 |
| Document: 0001437749-26-011680-index.html | 0001437749-26-011680 |
| Document: 0001437749-26-011680.txt | 0001437749-26-011680 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Press Release | $27.60 | awaiting T+20 | — | $27.60 (+0.00%) |
Oct 6, 2026 20d ago | 6-K | $33.38 | awaiting T+20 | — | $27.60 (−17.32%) |
Sep 24, 2026 4w ago | Press Release | $37.58 $28.21 | ▼ −24.93% | ▼ −23.46% | $27.60 (−26.56%) |
Sep 8, 2026 6w ago | 6-K | $35.53 $33.38 | ▼ −6.05% | ▼ −8.02% | $27.60 (−22.32%) |
Jul 31, 2026 12w ago | 6-K | $21.79 $32.89 | ▲ +50.94% | ▲ +47.95% | $27.60 (+26.66%) |
Jul 24, 2026 13w ago | 6-K | $23.96 $30.41 | ▲ +26.92% | ▲ +23.29% | $27.60 (+15.19%) |
Jul 7, 2026 15w ago | 6-K | $25.77 $22.93 | ▼ −11.02% | ▼ −12.35% | $27.60 (+7.10%) |
Jun 29, 2026 17w ago | 6-K | $23.69 $23.96 | ▲ +1.14% | ▲ +1.42% | $27.60 (+16.50%) |
Jun 8, 2026 20w ago | 6-K | $27.21 $26.57 | ▲ +2.35% | ▲ +3.98% | $27.60 (−1.43%) |
May 14, 2026 23w ago | 6-K | $39.46 $27.21 | ▼ −31.04% | ▼ −30.19% | $27.60 (−30.06%) |
US Market Status
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