• Hyperliquid Strategies has applied for CFTC Futures Commission Merchant registration through a subsidiary to handle U.S. customer accounts for permissioned perpetual futures markets under HIP-3*.

  • The company reported $620.6 million in Q3 net income, largely driven by $803 million in unrealized HYPE gains, while quarterly revenue stood at $13.3 million.

Hyperliquid Strategies (NASDAQ: PURR), one of the largest corporate holders of Hyperliquid’s HYPE token, has applied for U.S. regulatory approval to handle customer accounts for perpetual futures markets built on the network. The move comes as the company reported $620.6 million in net income for the third quarter of 2026.

In its November 5 financial results, the company confirmed that a subsidiary had filed an application with the U.S. Commodity Futures Trading Commission (CFTC) to register as a Futures Commission Merchant (FCM).

If approved, the subsidiary would carry U.S. customer accounts for permissioned markets launched under Hyperliquid’s proposed HIP-3* framework. The system would allow independent operators to create and manage their own markets using Hyperliquid’s on-chain infrastructure, while the proposed FCM would provide a regulated structure for handling customer accounts.

JUST IN: Hyperliquid Strategies (NASDAQ: PURR), the largest publicly listed HYPE treasury firm, has filed an application for a subsidiary to become a U.S. Futures Commission Merchant (FCM). The company reported $620.6 million in net income for the quarter ended September 30, 2026, largely driven by $803 million in unrealized gains on its $HYPE holdings. If approved, the subsidiary would handle U.S. customer accounts for permissioned perpetual futures markets on Hyperliquid under its HIP-3* framework. #Hyperliquid #HYPE #PURR

— TheNewsCrypto (@The_NewsCrypto) November 6, 2026

The company has not provided a confirmed approval or launch date. It also warned that there is no guarantee about the timing or outcome of the application or the regulatory approval of individual markets.

HYPE Holdings Drive Quarterly Profit Above $620 Million

Hyperliquid Strategies reported $13.3 million in revenue for the quarter ended September 30, including $12.3 million from staking and validator commissions and $1 million in interest income.

However, its $620.6 million net income was largely driven by an $803 million unrealized gain on its HYPE holdings. These gains reflect an increase in the value of tokens the company continued to hold, rather than profits generated from selling them.

The company also recorded a $172.3 million income tax provision and $15.3 million in expenses, primarily related to its committed equity facility.

Its HYPE treasury reached approximately 38.52 million tokens by September 30, valued at $3.505 billion using a token price of $90.99. During the quarter, it raised $911 million in equity capital and spent $785 million acquiring 9.1 million HYPE tokens. It also repurchased 2.7 million PURR shares for $17 million.

At quarter-end, the company reported $254.6 million in cash and cash-like assets, $3.4 billion in shareholders’ equity and no debt.