Hyperliquid just launched options trading on its PURR common stock on the Nasdaq Option Market.
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Another milestone for hyperliquid
Across the block, one question is resonating among traders, users, and watchers of the crypto space: How far can Hyperliquid actually go? Once underdog, now leading offender DEX is reaching for the stars as NewsBTC’s most recent piece summarizing Hyperliquid’s latest performance is already due for an update. Hyperliquid’s treasury company Hyperliquid Strategies Inc. (HSI) announced Tuesday that it has launched options trading on its common stock PURR on the Nasdaq Option Market.
PURR live on Nasdaq today.
The main objectives of the launch, as stated in the company’s press releaseare intended to improve liquidity and pricing for PURR, giving both institutional and retail investors new tools to hedge, express directional views, and run more sophisticated stock options strategies around this proxy for the Hyperliquid ecosystem.
David Schamis, CEO of Hyperliquid Strategies Inc, sees this new venture as a “major milestone for the company.” He believes there was no better timeline to launch options trading on PURR: From the record-breaking oil criminals to the adoption of fiat-on-ramp, the HIP-3 markets hitting new all-time highs and even surpassing the volume of some major CEX derivatives, Hyperliquid has recently found itself in the crypto market spotlight.
“As Hyperliquid continues to dominate headlines with record-breaking oil perpetuals and rising Real-World Asset (RWA) adoption, we believe now is an opportune time to launch options trading on PURR. PURR options enable our investors to better manage risk and participate in the rapid growth of Hyperliquid’s high-value ecosystem”
HSI’s business model centers on a digital asset treasury platform that builds exposure to HYPE, Hyperliquid’s native token, through staking, yield strategies and active participation in the ecosystem, all with the goal of maximizing shareholder value.
Hyperliquid dominates the perpetuals game
The 24-hour open interest just crushed almost $7 billion, which is almost 4x that of Aster.
Hyperliquid isn’t just leading… it leaves everyone else in the dust https://t.co/wkej3l47Yt pic.twitter.com/SZbqDhkdvo
— Hyperliquid Daily (@HYPERDailyTK) March 25, 2026
What PURR options traders should pay attention to
PURR effectively gives traditional market participants listed equity exposure to HYPE and the Hyperliquid ecosystem without directly touching on-chain infrastructure. Therefore, options on PURR are presented as a “capital efficient exposure” to HYPE. Additionally, equity options could increase flows around crypto-linked government bonds due to increased hedging demand from HSI shareholders, potential volatility sellers and buyers who place more value on HYPE fundamentals than PURR as a standalone name, and the possibility of option-driven feedback loops in the underlying asset.
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For traders, the key tools to keep an eye on now are options volume and open interest in PURR as a proxy for institutional positioning, implied volatility as a snapshot of how confident the market really is in Hyperliquid’s growth story, and any spike in the correlation between PURR, HYPE, and on-chain activity on the Hyperliquid DEX, which can mark when stock, token, and protocol flows all start moving in the same direction.
HYPE's price is on a growing trend, trading for $41 on the daily chart. Source: HYPEUSDT on Tradingview
Cover image of Perplexity, HYPEUSDT chart from Tradingview