Decentralized perpetual-futures protocol Hyperliquid is seeing increased institutional interest following a significant over-the-counter transaction. An institutional buyer acquired 3.75 million HYPE tokens in a deal valued at approximately $337 million, which was executed outside of public exchanges.
The platform has seen its derivatives open interest climb to nearly $14.3 billion, signaling a recovery following the market crash in October 2025. Grayscale, which offers a regulated Hyperliquid product, has also expanded its custody arrangements by partnering with BitGo to support the platform.
Recent developments include the integration of Hyperliquid perpetual futures quotes into the Bloomberg Terminal for live tracking. Additionally, the protocol has received $15 million in USDC to facilitate HYPE token buybacks through its AQAv2 mechanism.
