Is Bullish (BLSH) Halal?
Shariah Screening — 5 Standards
Based on financial data from December 2025
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | 10.3% / 30% | 4.8% / 30% | 3.4% / 30% | 0.04% / 5% | ✓ HALAL |
| DJIM | 10.3% / 33% | 4.8% / 33% | 3.4% / 33% | 0.04% / 5% | ✓ HALAL |
| MSCI | 17.8% / 33% | 8.2% / 33% | 5.9% / 33% | 0.04% / 5% | ✓ HALAL |
| S&P | 10.3% / 33% | 4.8% / 33% | 3.4% / 33% | 0.04% / 5% | ✓ HALAL |
| FTSE | 17.8% / 33% | 8.2% / 33% | 5.9% / 50% | 0.04% / 5% | ✓ HALAL |
Financial Highlights
Profitability
| Gross Margin | 100.0% | |
| Operating Margin | -244.7% | |
| Net Margin | 0.0% | |
| Return on Equity (ROE) | -27.6% | |
| Return on Assets (ROA) | -3.3% |
Cash Flow & Balance Sheet
| Operating Cash Flow | $29M |
| Free Cash Flow | -$23M |
| Total Debt | $581M |
| Debt-to-Equity | 17.6 |
| Current Ratio | 29.3 |
| Total Assets | $4.0B |
Price & Trading
| Last Close | $36.44 |
| 50-Day MA | $34.26 |
| 200-Day MA | $46.32 |
| Avg Volume | 1.9M |
|
52-Week Range
$24.79
| |
About Bullish (BLSH)
Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity. It also offers CoinDesk Indices, a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets to leading traditional finance institutions, including exchanges and asset managers; CoinDesk Data, a comprehensive suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics; and CoinDesk Insights offers news, analysis, information, conferences and networking opportunities related to digital assets, blockchain technology and the broader financial technology industry. Bullish was founded in 2020 and is based in George Town, Cayman Islands.
Purification Calculator
As a halal stock with 0.04% impermissible income, you need to purify your dividends.
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Frequently Asked Questions
Is Bullish (BLSH) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), Bullish is Halal. The company passes all financial ratio thresholds for debt, cash, receivables, and impermissible income. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is Bullish's debt ratio?
Bullish's debt ratio is 10.3% under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%. Under MSCI and FTSE (which use total assets as the denominator), the debt ratio is 17.8%.
Does Bullish require dividend purification?
Yes, Bullish has an impermissible income ratio of 0.04%, which means 0.04% of any dividends received should be donated to charity as purification. This is because a small portion of the company's revenue comes from non-Shariah-compliant sources.
What are Bullish's key financial metrics?
Bullish has a market capitalization of $5.2B, and revenue of $245.0B. Return on equity stands at -27.6%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.