Hyperliquid seeks U.S. regulatory path for perpetual futures

Hyperliquid is actively seeking a regulatory pathway to enter the United States market, aiming to offer its blockchain-based perpetual futures to American traders through regulated financial firms. While the platform currently restricts U.S. users from its interface to maintain compliance, the Hyperliquid Policy Center—led by crypto lawyer Jake Chervinsky—is conducting advocacy and research in Washington, D.C. The company is in discussions with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to establish a framework for on-chain derivatives.

Despite a broader slowdown in crypto derivatives activity, Hyperliquid’s native token, HYPE, has seen significant institutional interest. Bitwise has reportedly accumulated over $5 million worth of HYPE for its ETF clients, maintaining these positions through August despite recent price volatility.

Economically, Hyperliquid has shown substantial growth, reportedly generating over $900 million in profit last year. The platform is also expanding its ecosystem through HIP-3, which is driving demand for real-world assets (RWA) such as equities, indices, and commodities within its decentralized market structure.