Hyperliquid could become a ‘financial services juggernaut’ as DeFi expands, says Grayscale

Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Hyperliquid could become a ‘financial services juggernaut’ as DeFi expands, says Grayscale The digital asset manager says Hyperliquid is emerging as a blockchain-based financial infrastructure platform with the potential to expand beyond crypto trading and challenge parts of traditional derivatives and exchange markets. By Helene Braun | Edited by Stephen Alpher May 30, 2026, 1:00 p.m. 2 min read Make preferred on What to know : Hyperliquid, a decentralized trading platform that began as a crypto perpetual futures exchange, generated about $800 million in revenue in 2025 and is increasingly seen as a broader financial infrastructure play. Reports from Grayscale and FalconX say Hyperliquid is rapidly gaining share in perpetual futures while expanding into tokenized equities, commodities and prediction-style markets that trade around the clock. Analysts view regulation as the key risk and catalyst for Hyperliquid, which currently blocks U.S. users, even as they argue it is evolving from a niche crypto exchange into an early blueprint for a 24/7 global financial market built on blockchain. Hyperliquid (HYPE), a decentralized trading platform that began as a crypto perpetual futures exchange less than three years ago, is increasingly being viewed by Wall Street analysts as a broader financial infrastructure play that could challenge parts of traditional exchanges and derivatives markets.