Stanley Druckenmiller’s disclosed investment in TradeXYZ preceded a sharp move in Hyperliquid Strategies shares Thursday, as options activity accelerated around plans to bring perpetual futures trading to the United States.
TradeXYZ and Intercontinental Exchange (ICE) announced a plan to seek U.S. regulatory approval for perpetual futures tied to Hyperliquid. After the announcement, Druckenmiller posted on X that he was “excited to be an investor in trade(xyz).”
CNBC reported that Hyperliquid Strategies (PURR) shares rose 19% and reached a three-week high. Cboe LiveVol data cited by CNBC showed options volume above 111,000 contracts, more than six times its 30-day average.
The session included nearly 86,000 calls and fewer than 27,000 puts. Buyer-initiated calls outnumbered buyer-initiated puts by nearly four to one, Cboe LiveVol data cited by CNBC showed. Only one of the 10 largest trades involved put buying, the data showed.
CNBC identified Hyperliquid Strategies as the publicly traded stock most closely tied to the announcement. The company invests in HYPE, the token that powers the Hyperliquid exchange, the outlet reported.
CEO David Schamis told CNBC in a text that the partnership reflects demand for perpetual futures and advances efforts to bring the products under regulation. In August, President Donald Trump said regulators were working to bring the exchange onshore, CNBC reported. The proposed U.S. service remains subject to regulatory approval.
EconoTimes has previously covered Druckenmiller’s investment and the proposed U.S. futures venue.
