Hyperliquid urges U.S. SEC to create rules for pre-IPO perpetual futures

Hyperliquid has urged the U.S. SEC to establish a regulatory framework for pre-IPO perpetual futures, according to Wu Blockchain. The company, described as the world’s largest decentralized perpetual futures exchange, said pre-IPO perpetual futures are derivatives that provide price exposure to a company’s expected share price before listing and support price discovery in the market. Hyperliquid Policy Center, or HPC, under Hyperliquid, and fellow perp DEX Trade[XYZ] submitted a joint comment letter to the SEC today. In the letter, the two argued investors, including U.S. retail investors, should ultimately be allowed to access pre-IPO products and said an urgent regulatory framework is needed to support that access.