The S&P 500 will be available for 24/7 leveraged trading on a decentralized crypto exchange. Trade[XYZ], with approval from S&P Dow Jones Indices, will launch a perpetual contract for the index on the Hyperliquid platform. This move aligns with a broader Wall Street push to tokenize traditional assets for round-the-clock blockchain trading.
Traders can now gain leveraged exposure to the S&P 24/7 onchain. Trade[XYZ] received approval from S&P Dow Jones Indices to debut this perpetual contract on the Hyperliquid derivatives exchange, targeting non-US investors.
Cameron Drinkwater, chief product and operations officer at S&P Dow Jones Indices, stated that “We believe digitally-native investors should demand the institutional-quality standards that define our indices.” This product launch follows increased activity on crypto-native exchanges during traditional market closures. Hyperliquid allows constant trading, which surged especially on weekends amid geopolitical tensions.
The platform does not require know-your-customer checks. Unlike traditional venues, anyone can trade these tokenized commodities on the decentralized exchange. Round-the-clock trading is a key topic as Wall Street pushes to bring real-world assets onchain.
BlackRock CEO Larry Fink has long discussed asset tokenization for speed and transparency. In February, BlackRock announced it was working with Uniswap to bring a fund onchain. The New York Stock Exchange also said it was building a platform for tokenized equities and ETFs.
Hyperliquid‘s native token, HYPE, traded nearly 6% higher on Wednesday. According to CoinGecko, its price was near $43.
