Intercontinental Exchange explores 24/7 perpetual futures after discussions with crypto trading platform Hyperliquid.
Intercontinental Exchange (ICE) CEO Jeffrey Sprecher said the NYSE owner is learning from Hyperliquid’s crypto perpetual futures model rather than resisting it. The company is studying Hyperliquid’s 24/7 trading framework and engaging with regulators to assess whether U.S. exchanges can offer similar products under clear rules.
Sprecher noted that Hyperliquid’s approach has prompted ICE to examine how traditional markets can adapt to crypto-native trading mechanisms. The CFTC recently approved Bitcoin perpetual futures on prediction platform Kalshi, signaling regulatory openness to such instruments. ICE has questioned why regulated exchanges face restrictions that crypto venues do not.
The CEO also suggested SpaceX perpetual futures could test whether crypto market dynamics influence pre-IPO valuations. ICE and Hyperliquid are exchanging insights on operations and regulatory landscapes, with Sprecher emphasizing collaboration over competition.