ICE Hyperliquid Market Plan Sends HYPE Up Nearly 10%

Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, has agreed with Trade[XYZ] to develop a US-regulated perpetual futures market using Hyperliquid infrastructure. ICE would operate the venue exclusively, build its retail trading and clearing systems, and take a minority stake in Trade[XYZ]. Contracts could cover stocks, indexes, commodities, foreign exchange and cryptocurrencies, with round-the-clock trading, KYC and anti-money-laundering checks, and access through participating futures commission merchants. The plan needs regulatory approval, including approval from the Commodity Futures Trading Commission (CFTC); no launch date or investment value has been disclosed. Trade[XYZ] says its separate offshore Hyperliquid markets have processed more than $650 billion in cumulative volume since launching just over a year ago. HYPE rose from about $79.30 to a peak of $87.303 after the news, then traded near $86.151, up 5.73% over 24 hours as Bitcoin and Ether fell. On-chain data showed 12 large traders opened or rebuilt positions within about 30 minutes: nine longs worth $29.3 million and three shorts worth $8 million. Long exposure was 3.64 times larger than short exposure. The move points to optimism about Hyperliquid’s potential access to a regulated US market, but approval and HYPE’s role in the proposed venue remain uncertain. HYPE also faces resistance around $88–$89, which has capped previous rallies.