President Trump said the CFTC is working to bring Hyperliquid into the US in a fully compliant manner, and HYPE surged as much as 19% on the comment. The token, related ETFs, and Nasdaq-listed Hyperliquid Strategies all jumped on the same day Coinbase confirmed it is routing Base App users to Hyperliquid's perpetual futures markets.
HYPE climbed 17% over the past 24 hours to $69.75 after President Trump said Commodity Futures Trading Commission Chair Michael Selig is working to bring Hyperliquid into the United States in a "fully compliant and legal fashion". Trump made the remark during a Wednesday press conference with technology executives and federal agency chiefs.
Regulators warm to onchain perpetuals
Perpetual futures, or perps, let traders bet on price moves without an expiration date or direct ownership of the underlying asset, and they have become central to crypto derivatives trading. The CFTC already opened the door to onshore bitcoin perpetual contracts when its staff cleared KalshiEX and Coinbase to list the products. However, exchanges including CME and ICE have raised concerns that platforms like Hyperliquid could be used to manipulate prices and want the exchange registered with the CFTC.
Hyperliquid's Policy Center approached the CFTC in July 2026 to seek clarity on compliance for onchain software and derivatives, and that conversation appears to have paved the way for Wednesday's announcement. Trump also urged lawmakers to pass the Clarity Act, a broad crypto bill that has faced repeated setbacks and has limited time to clear Congress before year-end.
Related tokens and shares jump
The rally extended beyond HYPE itself. The 21Shares Hyperliquid ETF, Bitwise Hyperliquid ETF and Grayscale Hyperliquid Staking ETF each rose nearly 20% in Wednesday's session. Nasdaq-listed Hyperliquid Strategies (PURR) gained 30.4% on the day as well.
Coinbase separately integrated Hyperliquid's perpetual futures into its Base App the same day, giving eligible self-custody users outside the US, UK and Canada access to more than 290 markets with leverage up to 50x. Coinbase said perpetuals now account for roughly three-quarters of all crypto trading volume on its platform, though the Base App product is not yet available to US users.
Sources: The Block, Crypto Briefing, Finance Magnates
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