Hyperliquid group asks CFTC to allow energy perpetuals
Hyperliquid Policy Center and trade[XYZ] have asked the CFTC to permit regulated perpetual contracts tied to WTI crude, Brent crude, and Henry Hub natural gas after their markets recorded more than $500 billion in cumulative volume. Hyperliquid Policy Center and trade[XYZ] said in an Aug. 26 joint filing that U.S. regulators can bring energy perpetual contracts into regulated markets without waiting for new legislation. Submitted in response to a Commodity Futures Trading Commission review, the letter calls for a legal path covering contracts linked to West Texas Intermediate crude, Brent crude, and Henry Hub natural gas. trade[XYZ], the first major third-party market deployer on Hyperliquid, has offered such products since October 2025. Its markets have generated more than $500 billion in cumulative trading volume, according to the filing, which cited Bloomberg. The figure covers several asset classes available through trade[XYZ], including its energy products. Unlike dated futures, perpetual contracts do not expire. Traders instead make recurring funding payments designed to keep each contract close to the price of its reference asset, allowing a position to remain open without being transferred into a new delivery month. Energy perpetuals could fill weekend hedging gaps Continuous access formed a central part of the groups case, particularly when geopolitical events