Hyperliquid Strategies Seeks US Futures Brokerage Entry With FCM Registration Filing
Summary
- Hyperliquid Strategies said it has applied for US futures commission merchant (FCM) registration as it seeks to expand trading services for US investors.
- The company said it plans to provide services to US customers trading perpetual futures on licensed markets under the HIP-3 framework.
- Hyperliquid Strategies said it raised $911 million and used $785 million of that to buy about 9.1 million HYPE tokens, lifting its total holdings to about 38.9 million tokens and its average purchase price to $56.35.
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Hyperliquid Strategies, a digital-asset treasury company focused on the cryptocurrency Hyperliquid (HYPE), is seeking to enter the US futures brokerage business.
Wu Blockchain reported on Nov. 5 that the company disclosed a subsidiary had applied to register as a US futures commission merchant, or FCM. The move is aimed at expanding the business by increasing its HYPE holdings while offering trading services to US investors.
If the registration is approved, Hyperliquid Strategies plans to serve US customers trading perpetual futures on licensed markets under Hyperliquid's proposed HIP-3 framework. Unlike standard futures, perpetual futures do not expire.
The company previously reported net income of $620.6 million for the quarter ended Sept. 30. Results were driven by $803 million in unrealized gains from a rise in the value of its HYPE holdings.
During the same period, it raised $911 million through stock issuance. It used $785 million of that amount to buy about 9.1 million HYPE tokens. As of Oct. 28, its total holdings had increased to about 38.9 million tokens. The average purchase price across those holdings was $56.35 per token.
Doohyun Hwang
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