SEC Form 13F Summary: Bullish
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Bullish for the reporting period ending December 31, 2025. The form discloses the investment manager's holdings in equity securities as required by the Securities and Exchange Commission.
Key Financial Metrics and Holdings
The filing details specific equity positions in cryptocurrency-related exchange-traded funds (ETFs). The total value of reported holdings is approximately $270.4 million. The portfolio consists entirely of long positions with sole voting authority.
| Issuer | Title of Class | Shares Held | Value (USD) | Voting Authority |
|---|---|---|---|---|
| Grayscale Bitcoin Mini Trust | ETF | 4,523,963 | $175,213,087 | Sole |
| Grayscale CoinDesk Crypto USD | ETF | 2,255,000 | $93,183,816 | Sole |
| iShares Bitcoin Trust | ETF | 40,000 | $1,986,000 | Sole |
Material Changes
The filing text does not provide comparative data from the prior quarter; therefore, material changes in holdings versus the prior comparable period cannot be determined from this document alone.
Guidance, Outlook, and Risks
Form 13F filings are historical disclosures of holdings and do not contain management commentary, forward-looking guidance, or specific risk factors regarding the company's operations. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Investor Verification Checklist
- Verify the total aggregate value of the reported portfolio against the sum of individual holdings ($270,382,903).
- Confirm the specific CUSIP numbers for the Grayscale and iShares ETFs to ensure accurate security identification.
- Review prior quarter 13F filings to calculate the net change in share counts for each position.
- Check for any subsequent filings (e.g., Form 13F-HR amendments) that may update these positions.