Bullish, a crypto exchange, has extended its integration with Ripple prime to provide institutional clients access to Bitcoin option trading. This is in addition to the existing connectivity for spot, futures, and perpetuals through Prime brokerage.
Ripple users can access Bullish’s regulated Bitcoin option markets through the integration. This allows trades to funded using existing subaccounts with RippleUSD as collateral.
RLUSD, a stablecoin pegged to the US dollar, is designed for payment settlements and as collateral on digital asset markets. According to DeFiLlama, it has a capitalization of $1.57billion.
Market capitalization of Ripple USD Source: DefiLlama
Companies said that they will support cross-venue access to margin, which allows institutions to manage their collateral on exchanges as well as OTC desks using a single account. This would improve capital efficiency.
Ripple Prime was created after the $1.25bn IPO. acquisition Hidden Road, the crypto-prime broker in 2025. The announcement states that it will offer multi-asset trading, clearing and finance services in addition to clearing more than $3 trillion worth of volume in 2025.
Bullish’s Bitcoin (BTC), options market is among the most popular in terms of open interest. Ripple clients can access the options market immediately after integration.
Bullish’s shares fell sharply during the past 12 months, with a 60% drop from the peak reached in September. The stock was trading around $35.58 at the time this article was written. Yahoo Finance reported that Bullish was trading down 8% at the start of today’s trade. data.
Source: Yahoo Finance
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Institutions are increasingly interested in Bitcoin as a risk-management tool
Bitcoin’s volatile price has led to options becoming an important trading tool. Options give traders the ability to purchase or sell an item at a predetermined price.
Coinbase will complete its finalization in August 2025. acquisition Deribit is bringing under its umbrella the biggest crypto options platform as part of an overall push to provide spot, futures, and options trading in a single marketplace.
Some Bitcoin corporate holders have also begun to shift from passive exposure towards more active risk management by using derivatives.
Nakamoto, Nasdaq’s listed company which is focused on creating a Bitcoin Treasury Strategy, announced last week that it had been operating an actively managed derivatives program Since early 2026 BTC has been used as collateral in options-based strategies that generate income through volatility, while also hedging the downside risk.
CoinGlass reports that Bitcoin options have maintained a large market over the past 12 months. The total open interest stood at approximately $32.8 billion by late April 2026. That’s up slightly from about $30.8 billion one year prior and had peaked above $50 billion when there was a surge in activity. data.
Bitcoins open to interest: Total. Source: CoinGlass
Deribit dominates the Bitcoin open interest market, with a large share of trading taking place on this platform.
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Source: cointelegraph.com
