HYPE Rises 22%, PURR Up 33% as Trump Vows to Bring Hyperliquid to the US

Hyperliquid and Hyperliquid Strategies Inc rose 22% and 33%, respectively, after Trump said at the White House on Wednesday that his administration would work to bring the decentralized exchange to the United States.

HYPE Is Just the "Tip of the Iceberg"

At a White House crypto meeting, Trump said CFTC Chairman Mike Selig is creating a "fully compliant and legal" pathway for Hyperliquid in the US.

The development drew attention from former Binance CEO Changpeng "CZ" Zhao, who argued that Hyperliquid's legalization or formal regulation in the US would be a win for the entire crypto industry.

Speaking at the SALT conference in Wyoming, Zhao described Hyperliquid as the "tip of the iceberg," potentially opening the door for broader decentralized platforms to gain legitimate access to the US market.

A regulatory pathway for permissionless decentralized platforms could set a precedent for other services while potentially bringing more crypto liquidity and activity back to the US.

Will Traditional Finance Liquidity Flood On-Chain?

Prominent crypto commentator "Bitcoin Jack" noted that "Hyperliquid's entry into the US is far more significant than people realize."

He expects US market access to facilitate traditional finance capital flowing into 24/7 markets and eventually into crypto, boosting on-chain liquidity.

According to the commentator, Hyperliquid could also serve as an entry point for funds seeking broader access to digital assets.

In an August 20 X post, he pointed to several catalysts that could amplify the impact, including the potential passage of the CLARITY Act, continued efforts to advance a US strategic bitcoin reserve, and Washington's push to bring geo-fenced crypto activity back within US borders.

Why Grayscale Thinks HYPE Is Just Getting Started

Institutional interest in Hyperliquid was already growing before Trump's remarks.

Grayscale launched the Grayscale Hyperliquid Staking ETF on June 3. Within less than 30 days, the investment product accumulated over $123.28 million in assets under management, becoming the largest HYPE fund before the 21shares Hyperliquid ETF.

Following Trump's White House remarks, Grayscale highlighted the progress from launching HYPG to the administration's commitment to bringing Hyperliquid to the US.

Grayscale posted on X Thursday: "We're just getting started."