TLDR
- Stanley Druckenmiller made his first X post to say he is an investor in Trade[XYZ].
- Trade[XYZ] and Intercontinental Exchange plan a regulated U.S. market for perpetual futures.
- Hyperliquid Strategies shares rose 19% and the HYPE token gained nearly 20% on Thursday.
- More than 111,000 options traded on the stock, over six times the 30-day average.
- The proposed market needs CFTC approval, and no launch date has been set.
Billionaire investor Stanley Druckenmiller posted on X for the first time on Thursday. He said he is “excited to be an investor in trade(xyz).” He did not share financial details.
I am excited to be an investor in trade(xyz) as they partner with ICE to bring 24/7 perpetual futures on Hyperliquid to the United States. As a market participant, I am looking forward to to using their innovative product to enhance my investment process.
— Stan Druckenmiller (@standuquesne) October 29, 2026
The 73-year-old investor added that he looks forward to using the platform’s product to improve his investment process. His representatives confirmed the statement to the Financial Times.
Elon Musk replied to the post with one word: “Interesting.” Trade[XYZ] founder Shoku then said he would love to get the platform’s perpetual futures integrated into X. There was no sign the companies are in talks.
ICE Partnership Aims to Bring Perpetual Futures to the U.S.
Trade[XYZ] announced a partnership Thursday with Intercontinental Exchange, the parent company of the New York Stock Exchange. The goal is a regulated U.S. venue for perpetual futures. These are contracts that let traders take leveraged positions with no expiration date.
trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States.
In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for…
— trade.xyz (@tradexyz) October 29, 2026
The proposed ICE[XYZ] market would offer around-the-clock trading in contracts tied to crypto, stocks, commodities and currencies. It needs approval from the Commodity Futures Trading Commission. ICE will run the exchange and clearing systems and take a minority stake in Trade[XYZ]. Financial terms were not shared.
Trade[XYZ] is one of the largest developers of markets on Hyperliquid. It said its platforms have produced more than $650 billion in trading volume in just over a year. Those markets will keep running alongside the proposed U.S. venue.
Talks between ICE and Hyperliquid go back at least a year, according to Hyperliquid co-founder Jeff Yan. In August, President Donald Trump said regulators were working to bring the exchange onshore.
Hyperliquid Strategies Stock and HYPE Token Jump
Hyperliquid Strategies shares rose 19% Thursday to their highest level in three weeks. The Nasdaq-listed company holds the HYPE token, which powers the Hyperliquid exchange. The token also rose nearly 20%.
Hyperliquid Strategies Inc Common Stock, PURR
More than 111,000 options traded on the stock, over six times the 30-day average. About 86,000 were calls and fewer than 27,000 were puts. Data from Cboe LiveVol showed that only one of the top 10 trades involved buying puts.
Duquesne Family Office, Druckenmiller’s firm, held 2.94 million shares of Hyperliquid Strategies as of June 30. They were valued at $23.15 million. The filing does not show whether the firm still owns them. Trade[XYZ] and Hyperliquid Strategies are separate businesses.
The news comes as CME Group’s lawsuit against the CFTC continues. CME sued in June, arguing perpetual contracts were wrongly classified as futures rather than swaps. The CFTC has asked the court to dismiss the case. No launch date has been announced for the new U.S. venue.
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