Bullish director reports 5,040,002 shares on Form 3

Bullish director Bliss Andrew filed an initial ownership report showing indirect beneficial ownership of 5,040,002 Ordinary Shares.

Rhea-AI Filing Summary

Bullish director Bliss Andrew filed an initial ownership report showing indirect beneficial ownership of 5,040,002 Ordinary Shares. These shares are held by Bliss Capital Limited, an entity he controls, so he is deemed to beneficially own them.

The filing also notes 4,139 restricted share units granted on November 6, 2025 under the Bullish 2025 Omnibus Incentive Plan. These RSUs vest in full on September 1, 2026, with each unit delivering one Bullish ordinary share upon vesting.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bliss Andrew

Role Director

Type	Security	Shares	Price	Value
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Ordinary Shares — 5,040,002 shares (Indirect, By Bliss Capital Limited)

Footnotes (2)

1. F1. The 5,040,002 Ordinary Shares reported in Table I are held by Bliss Capital Limited, an entity controlled by the reporting person. The reporting person is deemed to beneficially own the shares held by Bliss Capital Limited.
2. F2. Represents 4,139 restricted share units ("RSUs") granted on November 6, 2025 under the Bullish 2025 Omnibus Incentive Plan. The RSUs vest in full on September 1, 2026. Each RSU represents a right to receive one ordinary share of Bullish upon vesting.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Bullish (BLSH) director Bliss Andrew report on this Form 3?

Bliss Andrew reports his initial beneficial ownership in Bullish, showing 5,040,002 Ordinary Shares held indirectly through Bliss Capital Limited. Because he controls that entity, he is deemed to beneficially own those shares under securities rules governing insider reporting.

How many Bullish (BLSH) shares does Bliss Capital Limited hold?

Bliss Capital Limited holds 5,040,002 Bullish Ordinary Shares, according to the Form 3. The filing explains this entity is controlled by director Bliss Andrew, so he is treated as beneficial owner of the shares for reporting and disclosure purposes to the market.

How are Bliss Andrew’s Bullish (BLSH) holdings characterized on the Form 3?

The holdings are reported as indirect ownership, with 5,040,002 Ordinary Shares held by Bliss Capital Limited. The filing states that Bliss Capital Limited is controlled by Bliss Andrew, and that he is deemed to beneficially own the shares held by this entity.

What restricted share units (RSUs) related to Bullish (BLSH) are disclosed?

The filing discloses 4,139 RSUs granted on November 6, 2025 under the Bullish 2025 Omnibus Incentive Plan. These RSUs vest in full on September 1, 2026, and each RSU represents a right to receive one Bullish ordinary share upon vesting.

When do the Bullish (BLSH) RSUs reported by Bliss Andrew vest?

The 4,139 restricted share units vest in full on September 1, 2026. Once vested, each RSU entitles the holder to receive one Bullish ordinary share, aligning a portion of the director’s compensation with the company’s future share performance.

Is there a buy or sell transaction in this Bullish (BLSH) Form 3?

No explicit buy or sell transaction is reported. The Form 3 functions as an initial ownership statement, listing 5,040,002 Ordinary Shares held indirectly and 4,139 RSUs granted, rather than documenting a new market purchase or sale of Bullish shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/18/2026 - 04:57 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Bliss Andrew

(Last) (First) (Middle)

OFFICE 101, 103, 105 SUITE 70202, BLDG A

BLOCK 7, 60 NEXUS WAY, CAMANA BAY

(Street)

GEORGE TOWN, GRAND CAYMAN KY1-9005

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Bullish [ BLSH ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	5,040,002(2)	I	By Bliss Capital Limited(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The 5,040,002 Ordinary Shares reported in Table I are held by Bliss Capital Limited, an entity controlled by the reporting person. The reporting person is deemed to beneficially own the shares held by Bliss Capital Limited.

2. Represents 4,139 restricted share units ("RSUs") granted on November 6, 2025 under the Bullish 2025 Omnibus Incentive Plan. The RSUs vest in full on September 1, 2026. Each RSU represents a right to receive one ordinary share of Bullish upon vesting.

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.

	/s/ Andrew Bliss	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)