Trump Gives Boost to Hyperliquid as CFTC Eyes Compliant Entry into US Markets

US President Donald Trump announced during a press conference on Wednesday that Commodity Futures Trading Commission Chair Michael Selig is working to bring Hyperliquid, a perpetuals-focused trading platform, into the US in a 'fully compliant and legal fashion'.

This comes after JPMorgan analysts noted an increase in popularity of onchain perpetual platforms like Hyperliquid among non-crypto traders looking for 24/7 markets.

The CFTC first allowed bitcoin perpetual futures contracts in the US when it greenlit KalshiEX, LLC and Coinbase to list them. However, traditional exchanges such as CME and ICE have concerns that platforms like Hyperliquid could be used to manipulate prices and want them to be registered with the CFTC.

Hyperliquid's native token (HYPE) surged 17% over the past 24 hours following Trump's comment, while the 21Shares Hyperliquid ETF (THYP), Bitwise Hyperliquid ETF (BHYP), and Grayscale Hyperliquid Staking ETF (HYPG) rose nearly 20% in Wednesday's session.