Nasdaq-listed Hyperliquid Methods filed with the Commodity Futures Buying and selling Fee to register as a futures fee service provider so it may possibly carry US consumer accounts for HIP-3 permissioned markets on Hyperliquid, the corporate disclosed on November 5 in its third-quarter outcomes.
Key takeaways
Hyperliquid Methods (Nasdaq: PURR) disclosed the CFTC submitting in its Q3 outcomes on November 5, 2026.Approval would let the agency maintain US consumer accounts itself, somewhat than routing by way of an outdoor futures fee service provider.Payward, Kraken’s dad or mum, turned the primary CFTC-regulated deployer on HIP-3 markets in late October, utilizing NinjaTrader Clearing as its FCM.HIP-3 markets account for about 26.7% of $64.7 billion in 30-day buying and selling quantity, a determine the corporate cites from analysis findings.
The submitting is the most recent step in a fast regulatory build-out round Hyperliquid in the US. Payward, the dad or mum of crypto alternate Kraken, turned the primary CFTC-regulated deployer on HIP-3 markets in late October, planning deployments by way of its Bitnomial subsidiary with NinjaTrader Clearing performing because the futures fee service provider underneath an allowlist mannequin. Hyperliquid Methods is pursuing a unique path: registering itself so it may possibly maintain buyer accounts straight.
A futures fee service provider is the regulated intermediary of the futures world: it holds buyer accounts and handles trades for shoppers. Registering as one would put the Nasdaq-listed HYPE treasury agency, which trades underneath the ticker PURR, in the identical class as established futures brokers, with the CFTC as its supervisor.
Days earlier than the disclosure, Intercontinental Alternate, the proprietor of the New York Inventory Alternate, agreed to accomplice with TradeXYZ to carry Hyperliquid-based perpetual futures markets to US merchants, with ICE working alternate and clearing infrastructure and TradeXYZ designing the markets.
Hyperliquid Methods stated in its outcomes that HIP-3 deployer functionalities let unbiased operators run permissioned markets in a compliant method whereas the chain beneath stays a impartial infrastructure layer. “These elective further options would permit deployers to construct and launch permissioned markets on Hyperliquid’s onchain infrastructure,” the corporate stated in its outcomes.
The corporate cautioned that approval will not be assured. “There will be no assurance as to the timing or consequence of the appliance or regulatory approval of permissioned HIP-3 markets,” Hyperliquid Methods stated.
The industrial stakes are massive. Analysis findings cited within the firm’s outcomes put HIP-3 markets at roughly 26.7% of $64.7 billion in buying and selling quantity over the previous 30 days. Launching a HIP-3 market requires greater than 500,000 HYPE tokens, and the framework has been stay on Hyperliquid’s mainnet since October 13, 2025.
The quarter that carried the disclosure was itself pushed by the token. Hyperliquid Methods reported $13.3 million in income for the quarter ended September 30, above analyst estimates that ranged from $10.6 million to $12 million relying on the info supplier. Internet earnings reached $620.6 million, pushed by $803 million in unrealized positive factors on HYPE holdings and partly offset by a $172.3 million earnings tax provision. The complete outcomes are within the firm’s third-quarter earnings launch.
