Hyperliquid Strategies Inc. filed with the Commodity Futures Trading Commission to register as a Futures Commission Merchant and hold US client accounts for HIP-3 markets, including the HIP-3* version linked to CFTC-regulated deployments. Approval could give US traders a regulated route to onchain perpetual futures, but the review has no known timeline and the final operational terms remain undetermined. Launching a HIP-3 market requires more than 500,000 HYPE tokens. According to the cited data, HIP-3 markets accounted for 26.7% of $64.7 billion in trading volume over the past 30 days, while Payward, Kraken’s parent company, has already deployed HIP-3* markets through its Bitnomial subsidiary with NinjaTrader Clearing serving as FCM.
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