NYSE owner ICE moves to bring Hyperliquid $HYPE perps to US retail traders

Wall Street is taking another major step toward on-chain derivatives.
Intercontinental Exchange $ICE, the parent company of the New York Stock Exchange, has announced a partnership with Trade[XYZ] to bring Hyperliquid-based perpetual futures to US retail traders.
The agreement, announced on October 29, includes a strategic investment in Trade[XYZ] and plans for a dedicated US-regulated trading and clearing platform built on Hyperliquid infrastructure.
The proposed markets would offer 24/7 exposure to cryptocurrencies, stocks, indices, commodities, and foreign exchange.
But here's the interesting twist.
ICE has previously pushed for stronger regulatory oversight of offshore perpetual trading platforms, including Hyperliquid. Now, it wants to bring similar products into the US financial system under its own regulated structure.
The partnership also highlights Hyperliquid's growing influence.
Trade[XYZ] reports more than $650 billion in trading volume on Hyperliquid in just over a year, demonstrating substantial demand for around-the-clock derivatives trading.
The proposed US platform would operate separately from ICE's existing institutional futures business, with customer verification and anti-money laundering requirements.
However, the launch still requires regulatory approval, and no official opening date has been announced.
Meanwhile, social media users have pointed to a deleted ICE post about the announcement, adding to speculation surrounding the deal.
The bigger question is whether traditional exchanges are preparing to compete with decentralized platforms or increasingly adopting the infrastructure those platforms helped popularize.
For $HYPE, the partnership represents a significant institutional development, although it does not guarantee increased token demand or revenue.
Source: Intercontinental Exchange, Trade[XYZ], CoinDesk (October 29–31, 2026)