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Grayscale Hyperliquid Staking ETF (Ticker: $HYPG), the $HYPE ETP with the lowest gross management fee in the U.S.ยน, starts trading tomorrow.
$HYPE is the asset powering 24/7 onchain markets, with @HyperliquidX driving trillions in perpetual trading volumeยฒ
Direct $HYPE exposure and staking. In your brokerage account tomorrow.
Hyperliquid.
We welcome todayโs CFTC actions: approval of the first U.S.-listed perpetual derivatives contract, an accompanying Commission policy statement on the listing of perpetual derivatives, related interpretive guidance and no-action relief from the Market Participants Division, and a Staff Advisory on 24/7 Trading, Clearing, and Settlement, as a long-overdue acknowledgment that perpetual derivatives are a legitimate and essential tool for price discovery and risk management.
For too long, regulatory ambiguity drove these markets offshore, depriving American traders and institutions of access to regulated venues and undermining U.S. competitiveness in the global derivatives markets.
Todayโs actions chart a new path forward. We look forward to engaging closely with the Commission to ensure that the framework it develops is workable not only for centralized intermediaries, but for the onchain protocols where the most significant perpetuals activity actually occurs.
Today, Bloomberg reported on certain incumbent traditional exchanges raising concerns about the integrity and impact of markets for perpetual derivatives on Hyperliquid.
These concerns are unfounded.
Hyperliquid offers enhanced market transparency, publishing a complete onchain record of every transaction in real time, making it a uniquely hostile environment for insider trading or price manipulation. Hyperliquidโs transparency serves as a strong deterrent for misconduct and facilitates surveillance, detection, and investigation by regulators and law enforcement.
Hyperliquid also offers 24/7 trading, an innovation that substantially increases market efficiency. Prices move whether traditional exchanges are open or not. Continuous trading eliminates gaps and discontinuities between legacy market hours, improving price discovery for all participants.
Bloomberg correctly reports that U.S. law is not currently tailored for derivatives markets on public blockchains like Hyperliquid. We look forward to continuing our work with policymakers in Washington to bring onchain markets inside the regulatory perimeter.
okay so the hyperliquid announcement is omega giga bullish and there are enough tldr's around for you to read the basics but here are my favourite parts:
- the core team clearly has high leverage even with the biggest players in the game as they secure a deal with extremely favourable terms
- one of the biggest friction points (bridging to HL) will soon be direct through circle's cross-chain protocol
- hard to describe how big of a win this is from a regulatory standpoint just before the clarity act is likely to pass. two of the most scrutinised and regulation-friendly teams just threw a massive amount of reputation and money at HL right before it goes through the senate. that timing isn't an accident
- this deal reaffirms the HL team remains extremely aligned with the growth of the token and redistributing the wealth created on chain back to users
- there are no 'leaks' in the HL team, in crypto it's very common to see tokens outperforming into unknown announcements, $HYPE has been bleeding coming into this announcement
- there is no other chain where increasing TVL feeds directly into token increase, $HYPE now does
this announcement really helps smooth over the bear cases and creates an even higher ceiling for the bull cases
hyperliquid will be the house of all finance and all others will be competing through builder codes
hyperliquid