Provider at a glance
- Category
- Tokenised Equities
- Entity
- Not verified
- Official website
- bullish.com
Independent rankingchecked How it works
Details
Scored 58 out of 100 under methodology 2026.10.18, from the evidence read in September 2026.
Bullish tokenized BLSH shares
Bullish shares issued as Solana tokens
Tokenised Equities
#5 Overall
Ranked #5 of 8 tokenised equities in the published ranking
58
ChainChoice Score
The ChainChoice Score, shown against 100: published scores run from 41 to 99.- High evidence confidence
Is Bullish tokenized BLSH shares right for you?
Right for you if these matter most
- Issuer named8/10; the category best is 9
- US-person answer9/10, the category best
Look elsewhere if these come first
- Share or promise8/10 here; Securitize (tokenized SECZ) scores 10
- Dividends explained5/10 here; Ondo Stocks scores 6
Not yet tested for your country. Markets it lists: Europe.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best tokenised equity shows where it lands for you.
What will Bullish tokenized BLSH shares cost you?
Not priced on this basis
- Your balance
- $10k
How safe is Bullish tokenized BLSH shares?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read September 2026.
- LicenceMiCA (EU): no register record on file here.
- On the registersMiCA: authorised, Bullish Europe GmbH (DE, since 2025-09-04). Read 3 November 2026. Open the register
Alternatives to Bullish tokenized BLSH shares
Compare all 4- 3Ondo StocksLevel on score · stronger on dividends explained (6 against 5)58
- 4Securitize (tokenized SECZ)Level on score · stronger on share or promise (10 against 8)58
- 6Dinari dSharesLevel on score · stronger on dividends explained (6 against 5)58
For your setup
Find out if Bullish tokenized BLSH shares fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Bullish tokenized BLSH shares lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
- A few questions
- No account required
- Ranking-blind: no commercial input
- Personalised in under 60 seconds
Find my best tokenised equityNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Bullish tokenized BLSH shares ranks #5
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (24.1 here) sit inside the score; availability, friction, trust record and measured data add the rest. Best in this ranking on 1 of 4.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
358+8.963.510#3/8Loading evidence…
258+6.407.59#3/8Loading evidence…
225+3.525.58#5/8Loading evidence…
189+5.188.59#1/8Loading evidence…
Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
MarginLevelbehind Securitize (tokenized SECZ), #4
RobustnessOne point from changingacross a one-point change to each of its 4 criterion scores, the re-run scores 56–60 and ranks #2–#6
Evidence4 of 4 scored4 quoted, 4 with a source link
What would move the rank
Each line is the ranking run again with one of Bullish tokenized BLSH shares’s criterion scores changed and every other value held: the smallest whole-point change on that criterion that moves its rank, and where the re-run puts it. Up to 4 climbs and 3 falls are listed, smallest change first. Nothing here is a forecast.
Do I own the share, or do I own a promise from whoever sold it to me? 8 → 9 on its ladder · passes Securitize (tokenized SECZ)+160#5 → #2
Whose name is on the paper I am buying — and can I look that entity up in a register? 8 → 9 on its ladder · passes Securitize (tokenized SECZ)+159#5 → #3
When a dividend or a split happens, does anyone tell you in writing what you will get? 5 → 6 on its ladder · passes Securitize (tokenized SECZ)+159#5 → #3
Can a US person hold this — and does the vendor give me the same answer twice? 9 → 10 on its ladder · passes Securitize (tokenized SECZ)+159#5 → #3
Do I own the share, or do I own a promise from whoever sold it to me? 8 → 7 on its ladder · Dinari dShares passes it−156#5 → #6
Whose name is on the paper I am buying — and can I look that entity up in a register? 8 → 7 on its ladder · Dinari dShares passes it−156#5 → #6
When a dividend or a split happens, does anyone tell you in writing what you will get? 5 → 4 on its ladder · Dinari dShares passes it−156#5 → #6
Smallest climb: “Do I own the share, or do I own a promise from whoever sold it to me?” 8 → 9 passes Securitize (tokenized SECZ), #4.
Strengths
2 from the score dataWhere it leads
Best for readers who weight
- Whose name is on the paper I am buying — and can I look that entity up in a register? — 8/10, category best 9/10
- Can a US person hold this — and does the vendor give me the same answer twice? — 9/10, the category best
Tradeoffs
2 from the score dataWhere it trails
Not for readers who put first
- Do I own the share, or do I own a promise from whoever sold it to me? — 8/10 against a category best of 10/10
- When a dividend or a split happens, does anyone tell you in writing what you will get? — 5/10 against a category best of 8/10
Record watch-outs
- You almost certainly cannot buy it. The help centre matrix Bullish updated on 2026-08-14, two days after the launch it publicised worldwide, restricts 'Tokenized Securities Trading' to 'Institutional and Corporate (Professional Investor)' clients of the Gibraltar entity — 'No ⛔' for individuals, 'No ⛔' even for individuals who have passed the Professional Investor Qualification Assessment, and 'No ⛔' for customers of Bullish US, Bullish EU and Bullish HK. And if you do get in, the sentence that carries this product's ownership claim — 'the same legal standing as conventional shareholders' — appears only in a press release; the Terms you actually sign say the opposite where it counts: 'We do not facilitate voting activities arising from Corporate Actions in respect of Tokenized Assets.'
Competitive position
Where Bullish tokenized BLSH shares leads and where it trails
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Availability#5 / 86.0 of 20 · best 14.0
Published criteria#3 / 818.0 of 30 · best 19.0
Friction#1 / 82.7 of 10 · constant here
Trust record#1 / 83.2 of 8 · constant here
Measured data#1 / 88.3 of 18 · constant here
Where Bullish tokenized BLSH shares leads
- Do I own the share, or do I own a promise from whoever sold it to me?#3 / 8
- Whose name is on the paper I am buying — and can I look that entity up in a register?#3 / 8
- Can a US person hold this — and does the vendor give me the same answer twice?#1 / 8
Where it trailsNo criterion in the bottom third of its pool.
Closest alternatives
The 3 nearest rows by score
Nearest by published score in either direction. Each card states the criteria on which the two rows differ and the cost difference under the same scenario inputs; the compare arithmetic below shows why the higher one ranks higher.
Securitize (tokenized SECZ)#4 of 8 · score 58 · same score
Bullish tokenized BLSH shares leads on
- When a dividend or a split happens, does anyone tell you in writing what you will get?5 vs 2
- Can a US person hold this — and does the vendor give me the same answer twice?9 vs 8
Securitize (tokenized SECZ) leads on
- Do I own the share, or do I own a promise from whoever sold it to me?10 vs 8
- Whose name is on the paper I am buying — and can I look that entity up in a register?9 vs 8
Largest single reason Securitize (tokenized SECZ) is ahead: published criteria (+0.8 display points).Scenario cost: Securitize (tokenized SECZ) has no verified pricing for this scenario.
Dinari dShares#6 of 8 · score 58 · same score
Bullish tokenized BLSH shares leads on
- Do I own the share, or do I own a promise from whoever sold it to me?8 vs 5
- Whose name is on the paper I am buying — and can I look that entity up in a register?8 vs 7
- Can a US person hold this — and does the vendor give me the same answer twice?9 vs 1
Dinari dShares leads on
- When a dividend or a split happens, does anyone tell you in writing what you will get?6 vs 5
Largest single reason Bullish tokenized BLSH shares is ahead: published criteria (+15.6 display points).Scenario cost: Dinari dShares has no verified pricing for this scenario.
Ondo Stocks#3 of 8 · score 58 · same score
Bullish tokenized BLSH shares leads on
- Do I own the share, or do I own a promise from whoever sold it to me?8 vs 2
- Whose name is on the paper I am buying — and can I look that entity up in a register?8 vs 6
Ondo Stocks leads on
- When a dividend or a split happens, does anyone tell you in writing what you will get?6 vs 5
Largest single reason Ondo Stocks is ahead: availability (+15.6 display points).Scenario cost: Ondo Stocks has no verified pricing for this scenario.
Against the leader
81 vs 58 · gap 23.0Why Superstate Opening Bell ranks above Bullish tokenized BLSH shares
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale — it reproduces the displayed gap of 23.0 to within rounding.
DimensionThisSuperstate Opening BellGap share
Availability · 23% weight6.014.0−20.8, worse
Published criteria · 35% weight18.019.0−2.6, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight · constant here8.38.3same
Published criterionThisSuperstate Opening BellPoints
Do I own the share, or do I own a promise from whoever sold it to me? · w35810−2.24, worse
Whose name is on the paper I am buying — and can I look that entity up in a register? · w2589−0.80, worse
Can a US person hold this — and does the vendor give me the same answer twice? · w1896+1.73, better
Net5881−23.0
Your scenario
Bullish tokenized BLSH shares is not priced for this scenario
The annual management fee on your balance. Excludes performance fees, spreads and any redemption charge. Change an input and every figure recomputes from the published rate; the published rank does not move.
your cost/yr · default scenario — set your own
Your balance · your input$10k
Rate read from the provider’s published pricing ↗ on 29 September 2026.
your cost/yrCost is stated as your cost/yr in USD; it is never a yield, never annualised, and it does not enter the score.
Not priced on this basis
Under the default inputs · USDCategory medianNot priced0 of 8 rows priced
Cheapest pricedNone pricedDifference not stated · availability not applied — set your country to filter
8 of 8 rows in this ranking have no verified rate for this scenario and are absent from the median, not counted as free.
Evidence
Evidence read 29 September 2026
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceVerified4 of 4 criteria reconstruct from receipts
4 of 4 criteria reconstruct from a quoted, sourced receipt equal to the published strength.Public receiptsReading…4 quoted with a source URL
The receipt file has not been read yet.Evidence confidenceHighcoverage and corroboration, never freshness
4/4 criteria scored, with 4 dated sources quoted.RobustnessOne point from changingrank #2 to #6 across one-point re-runs
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.The newest evidence read on the platform is 3 November 2026; this category's reading is older. The scores stand as read on 29 September 2026.
Reading the evidence ledger…
CriterionSourceTypeReadFreshnessStatusReceipt
Do I own the share, or do I own a promise from whoever sold it to me?strength 8 · weight 35Report an error—29 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Whose name is on the paper I am buying — and can I look that entity up in a register?strength 8 · weight 25Report an error—29 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.When a dividend or a split happens, does anyone tell you in writing what you will get?strength 5 · weight 22Report an error—29 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Can a US person hold this — and does the vendor give me the same answer twice?strength 9 · weight 18Report an error—29 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.How you can lose money here, and what the ranking scores
- Insolvency failure: the firm or issuer that owes you cannot pay.Scored by Do I own the share, or do I own a promise from whoever sold it to me? · 35% (Bullish tokenized BLSH shares 8/10)Scored by Whose name is on the paper I am buying — and can I look that entity up in a register? · 25% (Bullish tokenized BLSH shares 8/10)
- Regulatory failure (Bullish tokenized BLSH shares 9/10): no licence where you are, or a forced market exit.Scored by Can a US person hold this — and does the vendor give me the same answer twice? · 18%
- Information failure (Bullish tokenized BLSH shares 5/10): the number is wrong or bought, or your data leaks.Scored by When a dividend or a split happens, does anyone tell you in writing what you will get? · 22%
Not assessed by this ranking: Contract failure, Control failure, Custody failure, Exit failure. A high place says nothing about these; the Methodology tab says what each means.
Facts
facts, not scoresWhat the record publishes
- Pricing
- No tokenized-securities fee category is published. Bullish's fee article (https://
support .exchange .bullish .com /servicedesk /customer /portal /1 /article /9373547, read on 29 September 2026 through its knowledge-base view https:// support .exchange .bullish .com /rest /servicedesk /knowledgebase /latest /articles /view /9373547, because the portal URL serves only a script shell) lists maker/taker basis points in three columns (Individual | Institution, SDS under 50% | Institution, SDS 50% to 100%): "Standard markets 0 / 0.5 0 / 0.5 0 / [0.5 to 2.5]", "Token markets -1.5 / 2 -1.5 / 2 -1.5 / 2", "Promotional markets 0 / 0 0 / 0 0 / 0", and defines "Standard Markets Any market not listed above falls into this category." BLSH/USDC is named in none of the enumerated market lists and the article never uses the words 'tokenized' or 'BLSH', so by that residual definition it falls to Standard. The help-centre availability matrix (article 42041387, same date) opens 'Tokenized Securities Trading' only to 'Institutional and Corporate (Professional Investor)' customers of Bullish GI, so the column that applies is Institution: a zero maker fee and a taker fee that starts at the floor and "increases in steps with SDS, capping at 2.5 bps once SDS is at or above 80%" (the article's formula: "taker fee = min(2.5, 0.5 + floor((SDS - 50%) / (80% - 50%) * 2.0 * 10) / 10)"). The article now carries "Notice: The following fee changes took effect on Friday, Sep 11, 2026:" and "The minimum Standard Markets taker fee for institutional clients has been adjusted from 0.3 bps to 0.5 bps." (the August notice about the Individual taker fee effective 4 August 2026 is gone). This is a residual inference, not a published tokenized-equity price. No custody, registry, transfer-agent, corporate-action or withdrawal fee for BLSH tokens appears in the fee article.Bullish tokenized BLSH shares — official pricing page ↗ · 29 September 2026 - Prices published in
- USDBullish tokenized BLSH shares — official pricing page ↗ · 29 September 2026
- Licences held
- Not published
- Compliance level
- partial
- Regulatory note
- REGISTER ENTRIES LOADED THIS SESSION (19 August 2026). (1) SEC Form TA-1, filed 18 November 2025, read on https://
www .sec .gov /Archives /edgar /data /2096796 /000209679625000001 /xslFTA1X01 /primary _doc .xml : '3(a). Full Name of Registrant: Bullish Digital TA LLC'; '3(b). Financial Industry Number (FINS) number: 379602'. - Supported chains
- solana
- Markets served
- europe
- Primary markets
- Not published
- Restricted markets
- Not published
- Operating limits
- Not published
- Availability note
- This is a MARKET RESTRICTION, not the standard OFAC/sanctions representation, and it is unusually specific. Bullish (GI) Exchange Terms of Service cl. 6.1.1: 'you are not a citizen or resident of, or located in, the United States or any Prohibited Jurisdiction'. GFSC-approval release: 'Bullish intends to make these benefits available to eligible non-U.S. investors'. The help centre matrix (14 August 2026) restricts 'Tokenized Securities Trading' to 'Customers of Bullish GI' — 'Yes ✅' — and marks 'No ⛔' for Bullish HK, Bullish EU and Bullish US customers, meaning the MiCAR/BaFin European entity and the Hong Kong entity do not offer it; only the Gibraltar entity does. The marketing line is a separate, vaguer statement: 'Available in select locations to eligible customers. Visit bullish.com/legal for important information about licenses, risk warnings and other disclosures.' The one European footprint the vendor documents positively for the GI entity is the UK, via its own site interstitial: 'Services are available in the United Kingdom only to investment professionals or high net worth entities, as defined in sections 19 and 49 of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 (as amended).' Hong Kong access to the GI entity carries its own warning: 'Bullish (GI) Limited (CE BTW125) has not been licensed by the Securities and Futures Commission and may not eventually be granted a licence'. 'europe' is recorded ONLY on the strength of the Gibraltar venue plus the UK professional/HNW statement; a buyer onboarded to Bullish EU (BaFin) is expressly excluded. No country list is published anywhere. || CORRECTED 2026-08-19: the claim that 'No country list is published anywhere' is WRONG. The Exchange ToS definitions publish 'Eligible U.S. States: California, Colorado, Hawaii, Indiana, Massachusetts, Michigan, Missouri, Utah, Wisconsin, and Wyoming.', and its cover page limits those customers to 'BTC and ETH spot trading services' only. 'Prohibited Jurisdictions' is separately defined, but only circularly, as 'countries and territories targeted by Sanctions Laws' - no enumerated list. Also note cl. 6.1.1 is the NATURAL-PERSON eligibility limb; because tokenized-securities trading is institution-only, the operative warranty for an actual buyer is cl. 6.1.2.
No confirmed legal entity is on file for this record. Nothing is inferred from the brand name.
If something goes wrong with Bullish tokenized BLSH shares: where to complain, and where to report a scam
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How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
10 methodology entries
- 29 September 2026Current verified snapshot · methodology 2026.10.18Score 58, #5 of 8. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.7Forty-one more products are offered only where their own quoted terms serve- fixed 141 country exclusions on 31 rows, each the name of a country the row's own quoted terms exclude: for example Mercuryo Hungary, China, Pakistan, Bangladesh, Chile, Colombia and Morocco; Gemini Custody the United Kingdom, Australia and the EU after its wind-down; Backed xStocks the US, Canada, the UK, Australia, Nigeria, the Philippines and Venezuela.
- changed Thirteen rows list the only countries their terms serve: Coins.ph the Philippines, Spritz bill pay, Brex, Unchained, WisdomTree, Franklin BENJI and AnchorWatch the United States (with its territories for AnchorWatch), PRYPCO Mint the UAE, N26 crypto seven EU countries, Gemini Tokenized Stocks the EU, XNET the US, Canada and the UK, Coldbit Steel and MetaMask Card the countries they list.
- changed Published (no-country) orders do not move. Country results change: in India six categories each lose one row (bill pay, cards, off-ramps, P2P, seed backup, tokenised real estate), and bill pay there has no row confirmed available, so it shows the published order marked as such; country pages list 23 fewer rows (24,357 to 24,334). The grounding test now matches full country names in any case, which shows seven earlier exclusions were quoted all along: the named debt of unquoted exclusions falls from 40 to 33 pairs.
- 10 October 2026
2026.10.6A criterion you require re-scores the rows that meet it · platform-wide- changed The explorer sends each criterion you require, at any band, as fit_required with your other answers; region, licence, chain and fact filters stay filters. On /best, a required criterion joins For you as a marked preference does, which needs your country; Overall stays the published ranking, filtered.
- added Every published criterion has a golden case as the explorer sends it (require:<criterion>), so the order a requirement gives is replayed and gated as the published order is, and a change to it needs an entry here.
Methodology 2026.10.18, the same published run every visitor sees · receipt tokenised_equities:bullish_blsh_tokeq:2026.10.18:89fb55ade437
Are you Bullish tokenized BLSH shares? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.