{"id":73299,"date":"2026-05-30T12:09:42","date_gmt":"2026-05-30T12:09:42","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/hyperliquid-hits-record-67-as-cftc-cracks-open-the-us-perpetuals-market\/"},"modified":"2026-05-30T12:09:42","modified_gmt":"2026-05-30T12:09:42","slug":"hyperliquid-hits-record-67-as-cftc-cracks-open-the-us-perpetuals-market","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/hyperliquid-hits-record-67-as-cftc-cracks-open-the-us-perpetuals-market\/","title":{"rendered":"Hyperliquid Hits Record $67 as CFTC Cracks Open the US Perpetuals Market"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight:400\"><\/p>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">HYPE hit a record $67.24 on May 29 after the CFTC cleared the first U.S. perpetual futures contract.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Grayscale says Hyperliquid earned about $800 million in fees in 2025, pressuring rival exchanges.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">A spot HYPE ETF decision from the SEC, filed as GHYP on May 22, is the next catalyst traders are watching.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><\/span><\/p>\n<h2><span style=\"font-weight:400\">A Record Built on Regulatory Relief<\/span><\/h2>\n<p><span style=\"font-weight:400\">HYPE, the native token of the <span>decentralized exchange<\/span> Hyperliquid, touched roughly $67.24 during Friday trading, extending a rally that had carried it past a previous peak near $64 only a week earlier. The gain capped one of the strongest stretches yet for a derivatives venue that barely existed three years ago.<\/span><\/p>\n<p><span style=\"font-weight:400\">The immediate catalyst came from Washington, as on May 28, the U.S. Commodity Futures Trading Commission (CFTC) <a href=\"https:\/\/news.bitcoin.com\/cftc-takes-historic-step-to-approve-first-true-us-bitcoin-perpetual\/\">approved the <\/a><\/span><span style=\"font-weight:400\">first perpetual futures contract<\/span><span style=\"font-weight:400\"> (a derivative that tracks an asset\u2019s price with no expiry date) on a regulated U.S. exchange, clearing KalshiEX\u2019s bitcoin-linked product. <\/span><\/p>\n<figure id=\"attachment_818424\" aria-describedby=\"caption-attachment-818424\" style=\"width:1196px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-818424\" class=\"wp-caption-text\">Image source: Coingecko<\/figcaption><\/figure>\n<p><span style=\"font-weight:400\">Hyperliquid was not named in the approval, and the CFTC signaled separately that it would permit certain perpetual products at Coinbase. Even so, traders read the ruling as a green light for the wider category, where Hyperliquid is by far the largest decentralized player. The optimism was amplified when the head of the New York Stock Exchange <\/span><a href=\"https:\/\/news.bitcoin.com\/nyse-parent-ice-explores-collaboration-with-decentralized-exchange-hyperliquid\/\"><span style=\"font-weight:400\">publicly endorsed<\/span><\/a><span style=\"font-weight:400\"> the platform, a rare crossover nod from the heart of traditional finance.<\/span><\/p>\n<h2><span style=\"font-weight:400\">Grayscale Calls It a Breakout<\/span><\/h2>\n<p><span style=\"font-weight:400\">Sentiment drew a second lift from Grayscale because earlier in the week, the asset manager <a href=\"https:\/\/research.grayscale.com\/reports\/hyperliquid-breaks-the-mold\" target=\"_blank\" rel=\"noopener noreferrer\">published a research report<\/a> titled \u201cHyperliquid <\/span><span style=\"font-weight:400\">Breaks the Mold<\/span><span style=\"font-weight:400\">,\u201d calling the protocol \u201cthe breakout success story of the modern digital assets industry\u201d and arguing it could scale into an exchange-sized business while preserving the transparency and self-custody of <span>decentralized finance<\/span> ( <span>DeFi<\/span>).<\/span><\/p>\n<figure id=\"attachment_818425\" aria-describedby=\"caption-attachment-818425\" style=\"width:918px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-818425\" src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/05\/hyperliquid-hits-record-67-as-cftc-cracks-open-the-us-perpetuals-market2_nwmk.jpg\" alt=\"Chart showing Hyperliquid's cumulative trading fees since 2025.\" width=\"918\" height=\"582\" srcset=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/05\/hyperliquid-hits-record-67-as-cftc-cracks-open-the-us-perpetuals-market2_nwmk-300x190.jpg 300w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/05\/hyperliquid-hits-record-67-as-cftc-cracks-open-the-us-perpetuals-market2_nwmk-768x487.jpg 768w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/05\/hyperliquid-hits-record-67-as-cftc-cracks-open-the-us-perpetuals-market2_nwmk.jpg 918w\" sizes=\"auto, (max-width: 918px) 100vw, 918px\"\/><figcaption id=\"caption-attachment-818425\" class=\"wp-caption-text\">Image source: Grayscale<\/figcaption><\/figure>\n<p><span style=\"font-weight:400\">The figures behind that claim are large. Grayscale <a href=\"https:\/\/news.bitcoin.com\/grayscale-says-hyperliquid-could-become-a-defi-juggernaut\/\">said<\/a> Hyperliquid processed about $2.9 trillion in perpetual <span>volume<\/span> in 2025 and holds roughly $7 billion in open interest, ranking it among the biggest perpetual futures exchanges of any kind. The HYPE token, which accrues value from trading fees, captured around $800 million in fees over the year. <\/span><\/p>\n<p><span style=\"font-weight:400\">Grayscale also wants to package that exposure for mainstream investors. It filed a third amended registration statement with the U.S. Securities and Exchange Commission (SEC) on May 22 for a spot Hyperliquid exchange-traded fund (ETF) under the <\/span><span style=\"font-weight:400\">ticker GHYP<\/span><span style=\"font-weight:400\">, a structure designed to route onchain <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-staking\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">staking<\/a> yield into the fund. Rival issuer 21shares launched its own Hyperliquid ETF on May 12, giving the token two prospective Wall Street wrappers in a single month.<\/span><\/p>\n<h2><span style=\"font-weight:400\">Why Traders Keep Piling In<\/span><\/h2>\n<p><span style=\"font-weight:400\">Hyperliquid runs a fully onchain order book for perpetual futures, offering around-the-clock trading, deep <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-liquidity\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">liquidity<\/a>, and fast execution of a centralized venue without asking users to hand over custody of their coins. That blend has made it the default home for onchain derivatives traders and the benchmark rivals are measured against.<\/span><\/p>\n<p><span style=\"font-weight:400\">The platform also leans on aggressive tokenomics, directing a share of fees toward buying back HYPE, a mechanism that tightens supply as <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-trading-volume\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">volume<\/a> climbs. Demand has been visible on the ledger as wallets that analysts link to <\/span><a href=\"https:\/\/news.bitcoin.com\/a16z-linked-wallets-hype-sixth-largest-holder-hyperliquid-2026\/\"><span style=\"font-weight:400\">venture firm Andreessen Horowitz<\/span><\/a><span style=\"font-weight:400\"> (a16z) have stacked tens of millions of dollars in HYPE since mid-April.<\/span><\/p>\n<p><span style=\"font-weight:400\">The next test is whether regulatory clarity converts into durable institutional flows. The CFTC\u2019s perpetuals decision and the pending GHYP and 21shares funds hand U.S. allocators their first compliant routes into a market they had mostly watched from the sidelines. A green light for a spot HYPE ETF would place Hyperliquid on a short list of tokens with both a working business and an exchange-listed wrapper.<\/span><\/p>\n<p><span style=\"font-weight:400\">For now, the token\u2019s fundamentals and regulatory backdrop point in the same direction. Whether HYPE can hold above $67 will hinge on follow-through from those institutional channels as well as on whether the <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-leverage-in-crypto-trading\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">leverage<\/a> that fueled the run unwinds as fast as it built.<\/span><\/p>\n<p> <!-- --><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/hyperliquid-hype-record-67-cftc-perpetuals-2026\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways HYPE hit a record $67.24 on May 29 after the CFTC cleared the first U.S. perpetual futures contract. Grayscale says Hyperliquid earned about $800 million in fees in 2025, pressuring rival exchanges. A spot HYPE ETF decision from the SEC, filed as GHYP on May 22, [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":73300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73299"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73299"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73299\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73300"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}