<SEC-DOCUMENT>0001193125-26-114774.txt : 20260318
<SEC-HEADER>0001193125-26-114774.hdr.sgml : 20260318
<ACCEPTANCE-DATETIME>20260318211014
ACCESSION NUMBER:		0001193125-26-114774
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260318
FILED AS OF DATE:		20260318
DATE AS OF CHANGE:		20260318

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Blumer Brendan Francis
		CENTRAL INDEX KEY:			0001955357
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42797
		FILM NUMBER:		26771948

	MAIL ADDRESS:	
		STREET 1:		C/O WALKERS CORPORATE LIMITED
		STREET 2:		190 ELGIN AVENUE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9008

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bullish
		CENTRAL INDEX KEY:			0001872195
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		ORGANIZATION NAME:           	09 Crypto Assets
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		UGLAND HOUSE, BOX 309
		CITY:			GRAND CAYMAN
		PROVINCE COUNTRY:   	E9
		ZIP:			KY1-1104
		BUSINESS PHONE:		852-3761-9140

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		UGLAND HOUSE, BOX 309
		CITY:			GRAND CAYMAN
		PROVINCE COUNTRY:   	E9
		ZIP:			KY1-1104
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0607</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2026-03-18</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001872195</issuerCik>
        <issuerName>Bullish</issuerName>
        <issuerTradingSymbol>BLSH</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001955357</rptOwnerCik>
            <rptOwnerName>Blumer Brendan Francis</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>BULLISH, BUILDING A BLOCK 7 60 NEXUS WAY</rptOwnerStreet1>
            <rptOwnerStreet2>CAMANA BAY, GEORGE TOWN</rptOwnerStreet2>
            <rptOwnerCity>GRAND CAYMAN</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>KY1-9005</rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>39157869</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7813</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4139</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares held by Buttonwood Investments 1, an exempted company domiciled in the Cayman Islands with limited liability (&quot;Buttonwood&quot;).  Brendan Blumer (the &quot;Reporting Person&quot;) holds 100% of the outstanding equity interests in Buttonwood and is a director of Buttonwood. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;), except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose.</footnote>
        <footnote id="F2">Represents 4,139 restricted share units (&quot;RSUs&quot;) granted to the Reporting Person on November 6, 2025, pursuant to the Bullish 2025 Omnibus Incentive Plan. The RSUs vest in full on September 1, 2026.</footnote>
    </footnotes>

    <remarks>Due to the issuer's status as a foreign private issuer pursuant to Rule 3a12-3(b) under the Act, the reporting person's transactions in the issuer's equity securities are exempt from Sections 16(b) and 16(c) of the Act.</remarks>

    <ownerSignature>
        <signatureName>/s/ Brendan Francis Blumer</signatureName>
        <signatureDate>2026-03-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
