Intercontinental Exchange (ICE), parent of the New York Stock Exchange, plans to take an equity stake in Trade.xyz to launch a regulated US perpetual futures market, Bloomberg reported. Financial terms have not been disclosed. The exchange would run on Hyperliquid infrastructure, with its own clearing system, anti-money laundering controls, and know-your-customer checks. It needs regulatory approval before launch. Contracts would track individual stocks, equity indexes, commodities, and foreign exchange rates. Unlike standard futures, perpetual futures have no expiry date. Hyperliquid operates outside the US, so the deal could give Trade.xyz a path to the US market. Trade.xyz and Hyperliquid have also lobbied regulators to allow perpetual futures tied to companies before their public listings.

Stan Druckenmiller posted his first tweet announcing an investment in Trade.xyz and supporting its partnership with ICE to bring Hyperliquid-based 24/7 perpetual futures to the United States, hoping to use the product to improve the investment process.

Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, is partnering with TradeXYZ to bring perpetual futures markets built on Hyperliquid to the US. ICE will also make a strategic investment in TradeXYZ. ICE will operate the markets and build exchange and clearing infrastructure for perpetual contracts linked to cryptocurrencies, stocks, indices, commodities, and foreign exchange. Hyperliquid will supply the technology through its HIP-3 framework, and TradeXYZ will design the markets. "We've seen a clear increase in retail participation in markets, and that participation is becoming far more global," chief executive officer Jeffrey Sprecher said. In May, the Commodity Futures Trading Commission issued a staff advisory and no-action relief for the products. Hyperliquid's HYPE token rose 15% on Thursday to over $92.