Hyperliquid Strategies applies to carry US futures customer accounts

Hyperliquid Strategies said on 5 November that a subsidiary has applied to become a futures commission merchant. The proposed business would carry US customer accounts for permissioned markets deployed on Hyperliquid, subject to regulatory approval.

The Nasdaq-listed treasury company disclosed the application with its September-quarter results. It is a proposed brokerage role for a subsidiary, not an announcement that Hyperliquid's existing products have received blanket US approval.

The company links its plan to HIP-3*, proposed additional features that would let independent operators run permissioned markets using the chain's infrastructure. Hyperliquid Strategies says the intended brokerage could help bring perpetual futures to US customers within a regulated framework.

Its release explicitly says neither the timing nor outcome of the application is assured, and approval of the permissioned markets is also uncertain. Customers should not read the filing as a live-product launch.

The company also reported buying 9.1 million HYPE tokens for $785 million during the quarter. Treasury purchases do not confer permission to operate a brokerage.