Jeff

Hyperliquid

United

Token

Hyperliquid's native token <a href="https://x.com/search?q=%24HYPE&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$HYPE</a> rose sharply on October 29 after Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, announced a plan to bring perpetual futures built on <a href="https://x.com/HyperliquidX" rel="noopener noreferrer nofollow">@HyperliquidX</a> infrastructure to the U.S. market. <cite>CoinGecko data showed HYPE price surging by 14% in the past 24 hours following the news.</cite>
The token was also up about 4% in the past hour at the time of writing.
<h2 id="what-ice-and-trade-xyz-announced">What ICE and Trade[XYZ] Announced</h2>
<cite>ICE and Trade[XYZ], a deployer of real-world-asset perpetual futures markets on Hyperliquid, announced a definitive agreement to bring Trade[XYZ]'s perpetual markets onshore in the United States, subject to regulatory approvals.</cite><cite>Under the agreement, ICE is the exclusive operator of Trade[XYZ]'s regulated markets and intends to establish a new, dedicated, regulated retail market and clearing structure.</cite><cite>ICE is also making a strategic investment in Trade[XYZ].</cite><cite>The size of the investment was not disclosed.</cite>
<cite>Planned contracts will span equities, indices, commodities, FX, and crypto, with access offered through participating brokers and platforms.</cite><cite>Once approvals are obtained, Know Your Customer and Anti Money Laundering-verified customers are expected to access the markets through futures commission merchants that become members of the platform.</cite><cite>An ICE-OKX joint venture is expected to distribute the contracts, subject to approvals.</cite>
Perpetual futures, or perps, are derivatives with no expiry date. <cite>They allow investors to trade price moves without directly holding the underlying asset, are typically available for round-the-clock trading and can be used with leverage.</cite>
<h2 id="why-the-u-s-launch-matters-for-hype">Why the U.S. Launch Matters for HYPE</h2>
<cite>Hyperliquid operates outside the US and isn't officially open to American traders. Trade.xyz is subject to the same restrictions.</cite> The proposed venue would give the ecosystem a route into regulated U.S. markets. <cite>The Commodity Futures Trading Commission this year allowed domestic companies to launch perpetual futures, prompting a series of related product rollouts.</cite>
Trade[XYZ] operates under Hyperliquid's HIP-3 framework. <cite>The company said its Hyperliquid markets have processed more than $650 billion in trading volume since launching just over a year ago.</cite><cite>It confirmed it will continue operating its existing HIP-3 markets while developing the separate U.S. business.</cite>
Details on the token's role remain unclear. <cite>The announcement did not specify whether HYPE would serve as collateral or carry any additional role within the proposed U.S. market.</cite> Launch also depends on regulators. <cite>It remains subject to approval from the Commodity Futures Trading Commission (CFTC).</cite>
ICE has shown interest in Hyperliquid before. <cite>In May, HYPE climbed nearly 10% after ICE CEO Jeff Sprecher told investors that the decentralized derivatives platform had grown bigger than Nasdaq.</cite>
Price moves vary by reporting window. <cite>HYPE briefly climbed to around $86 following the announcement, according to crypto.news market data.</cite> Other outlets reported smaller gains over different periods, so figures may shift as trading continues.
Sources:
<ul>
 <li><a href="https://fxnewsgroup.com/forex-news/exchanges/ice-tradexyz-to-bring-hyperliquid-based-perpetual-markets-onshore-in-the-us/" rel="noopener noreferrer nofollow">FX News Group: ICE and Trade[XYZ] to bring Hyperliquid-based perpetual markets onshore in the US</a></li>
 <li><a href="https://www.energyconnects.com/news/utilities/2026/october/nyse-owner-plans-market-for-hyperliquid-perpetual-futures-in-us/" rel="noopener noreferrer nofollow">Energy Connects (Bloomberg report): NYSE Owner Plans Market for Hyperliquid Perpetual Futures in US</a></li>
 <li><a href="https://www.cryptotimes.io/2026/10/29/hyperliquid-token-hype-price-rises-14-after-ice-and-tradexyz-announces-regulated-u-s-perpetuals-venue/" rel="noopener noreferrer nofollow">The Crypto Times: Hyperliquid Token (HYPE) Price Rises 14% After ICE and Trade[XYZ] Announcement</a></li>
</ul>

Hyperliquid (HYPE) Token Rises 14% as NYSE Owner ICE Plans U.S. Perpetual Futures Market

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