- Hyperliquid is exploring a US route that could bring its perpetual futures to traders.
- Regulatory approval could expand Hyperliquid’s reach through regulated financial firms.
- HYPE continues to attract buyers even as crypto derivatives activity slows.
Hyperliquid is exploring a path into the US market as regulators consider how its blockchain-based perpetual futures platform could operate under existing rules.
The Information reported that Hyperliquid is in discussions with the Commodity Futures Trading Commission and Securities and Exchange Commission over possible regulatory options. The talks could determine whether regulated firms can offer Hyperliquid’s perpetual futures to US traders.
Hyperliquid Targets US Access
Hyperliquid wants regulated financial firms to offer perpetual futures through its public blockchain. The platform currently blocks US users, but a no-action letter or new regulatory guidance could provide a route into the market.
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The push comes as Hyperliquid’s business expands. The platform reportedly generated more than $900 million in profit last year. VanEck’s Matthew Sigel has also estimated that HYPE, its native token, could generate about $800 million in annualized revenue.
HYPE Draws Investor Interest
The regulatory push comes as crypto derivatives activity weakens. Centralized futures volume fell to $4 trillion in July, the lowest since December 2023, while decentralized exchange perpetual volume dropped 21% to $531 billion.
HYPE has continued to attract buyers despite the broader slowdown. Arkham data shows wallets linked to Bitwise recently bought more than $5 million worth of HYPE and continued accumulating through August without reported sales.
The buying could give HYPE another catalyst if Hyperliquid secures a regulatory path into the US. For now, the platform is trying to expand its reach while navigating a market where derivatives trading is losing momentum.
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