Bullish Lists and Clears Record Long-Dated Bitcoin Options Expiring in January 2028

Institutional crypto exchange Bullish has listed and cleared European-style Bitcoin options expiring on January 28, 2028, marking the furthest-dated options trade executed on a crypto venue. The USDC-settled contracts extend maturity coverage to about 2.5 years, with scheduled expirations extending through December 2028. Since launching options trading in October 2025, Bullish has become the second-largest global Bitcoin options exchange, recording peak open interest of $3 billion to $4 billion and first-quarter 2026 trading volume of $11.6 billion. Although not currently accessible to U.S. investors, Bullish has filed for U.S. derivatives exchange and clearinghouse licenses.