Hyperliquid Grabs Record 6.9% Perpetual Open Interest Share

Hyperliquid has captured a record 6.9% share of aggregate perpetual futures open interest, underscoring its growing dominance in decentralized derivatives. The milestone follows CME and ICE's May 17 lobbying push urging regulators to curb the offshore platform's 24/7 trading, including its high-volume WTI crude contract. Strong investor demand emerged as 21Shares' Hyperliquid ETF attracted over $5 million in inflows and $8 million in single-day volume by May 19, with Bitwise launching a rival product. Despite enforcement challenges and restricted U.S. access, the platform's expansion into real-world assets signals potential liquidity shifts even as traditional exchanges prepare continuous crypto futures.