Elon Musk and Stan Druckenmiller React as ICE Plans to Bring Hyperliquid to US

On Thursday, Elon Musk, billionaire Stan Druckenmiller, and Bitwise CIO Matt Hougan all responded to the same development. The New York Stock Exchange's parent company, Intercontinental Exchange (ICE), intends to introduce Hyperliquid's around-the-clock markets to US customers.

The market response was swift. According to CoinGecko, Hyperliquid's HYPE token gained 19.9% over 24 hours, reaching $95.89. Shares of Hyperliquid Strategies (PURR), a Nasdaq-listed firm that holds HYPE, surged 21.8%.

What Is Hyperliquid, and Why Can’t Americans Use It?

Hyperliquid is a trading platform built on its own blockchain, allowing users to speculate on the prices of stocks, commodities, currencies, and cryptocurrencies around the clock.

The platform offers perpetual futures contracts that track asset prices without an expiration date. According to Trade[XYZ], a firm that lists these contracts, its markets exceeded $650 billion in trading volume within just over a year.

Currently, US residents cannot access Hyperliquid. However, ICE has agreed to operate a regulated US version, subject to approval, and is acquiring a minority stake in Trade[XYZ]. BeInCrypto reported on the NYSE owner's Hyperliquid deal earlier Thursday.

What Each Man Said, and What Two of Them Own

Druckenmiller revealed his investment in Trade[XYZ] via a post on X.

“I am excited to be an investor in trade(xyz) as they partner with ICE to bring 24/7 perpetual futures on Hyperliquid to the United States,” Druckenmiller wrote.

Musk reposted Druckenmiller's announcement with a single-word comment: “Interesting.” Additionally, Druckenmiller's Duquesne Family Office disclosed owning 2.94 million PURR shares, valued at roughly $23 million as of June 30, in its most recent 13F filing.

Interesting https://t.co/HQiYAlfKWB

— Elon Musk (@elonmusk) October 29, 2026

Hougan stated that investors are getting in early.

“If you’re looking at $HYPE up 14% and wondering if you missed it, please consider that 99.9% of Americans do not know it exists,” Hougan posted.

He offered no source for that claim, though his impartiality regarding Hyperliquid is uncertain.

Bitwise manages a HYPE exchange-traded fund on the NYSE with an annual expense ratio of 0.34%.

Investors are taking note of Hyperliquid.

The Bitwise Hyperliquid ETF $BHYP has traded over $40,000,000 in the first 3 hours today. https://t.co/uyChlaHlUo

— Hunter Horsley (@HHorsley) October 29, 2026

The previous surge following news of US availability eventually subsided. After BeInCrypto's September 17 report on Kraken's Hyperliquid futures initiative, HYPE reached an all-time high of $97.96. By October 26, the token was trading around $76.

The ICE platform has yet to receive approval or set a launch date. The current HYPE price is approximately 2% below its September record high.