Crypto exchange Bullish has actually broadened its combination with Ripple Prime to offer institutional customers direct access to Bitcoin choices trading, contributing to existing area, continuous and futures connection through the platform’s prime brokerage network.
The combination links Ripple Prime users to Bullish’s managed Bitcoin (BTC) choices markets, enabling trades to be moneyed through existing sub-accounts without extra onboarding, with stablecoins such as Ripple USD (RLUSD) supported as security.
RLUSD is a United States dollar-pegged stablecoin created for payments, settlement and usage as security in digital possession markets. It has a market capitalization of about $1.57 billion, according to DeFiLlama information.
Ripple USD market cap. Source: DefiLlama
The business stated they prepare to support cross-venue margin gain access to, which would permit organizations to handle security throughout exchanges and OTC desks from a single account to enhance capital effectiveness.
Ripple Prime is the business’s institutional prime brokerage platform, formed after its $1.25 billion acquisition of crypto prime broker Hidden Roadway in 2025. It uses multi-asset brokerage, cleaning and funding services and cleared more than $3 trillion in volume in 2025, according to the statement.
Bullish stated its Bitcoin (BTC) choices location ranks amongst the biggest by open interest for crypto-settled agreements. The combination is now live, enabling Ripple Prime customers to start accessing choices markets right away.
Shares of Bullish have actually decreased greatly over the previous year, falling more than 60% from their peak in September and trading around $36.58 at the time of composing. The stock was down approximately 8% in early trading on the day, per Yahoo Financing information.
Source: Yahoo Financing
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Bitcoin choices gain traction as organizations look for danger management tools
Bitcoin’s volatility has actually made choices, which offer traders the right to purchase or offer a property at a set cost, a significantly crucial tool for hedging and trading cost swings.
In August 2025, Coinbase completed its acquisition of Deribit, bringing the biggest crypto choices location under its umbrella as part of a more comprehensive push to use area, futures and choices trading on a single platform.
Some business Bitcoin holders are likewise starting to move beyond passive direct exposure towards more active danger management utilizing derivatives.
Recently, Nakamoto, a Nasdaq-listed business concentrated on constructing a Bitcoin treasury method, stated it has actually been running an actively handled derivatives program because early 2026, utilizing BTC as security for options-based methods created to create earnings from volatility while hedging drawback danger.
Over the previous year, Bitcoin choices markets have actually stayed regularly big, with overall open interest standing at about $32.8 billion since late April 2026, up a little from approximately $30.8 billion a year previously and peaking above $50 billion throughout durations of increased activity, according to CoinGlass information.
Overall Bitcoin choices open interest. Source: CoinGlass
Trading is greatly focused on Deribit, which represents most of Bitcoin choices open interest, while smaller sized shares are dispersed throughout locations consisting of CME Group, OKX, Binance and Bybit.
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