Wall Street’s fight with Hyperliquid could decide who controls 24/7 markets
CME Group plans to make its cryptocurrency futures and options trade around the clock beginning May 29, a product line that posted $3 trillion in notional volume in 2025 and is running 46% above that pace year-to-date. ICE's New York Stock Exchange is developing a tokenized securities platform built
Wall Street giants are positioning for control of round-the-clock cryptocurrency trading as CME Group announces plans to make its cryptocurrency futures and options trade 24/7 starting May 29. The derivatives exchange's crypto product line generated $3 trillion in notional volume in 2025 and is currently running 46% above that pace year-to-date. Meanwhile, ICE's New York Stock Exchange is developing a tokenized securities platform designed for continuous operations with instant settlement capabilities.
The move represents traditional finance's aggressive push into the always-on crypto trading space, where decentralized platforms like Hyperliquid have established dominance. These legacy financial institutions are leveraging their regulatory compliance and institutional relationships to challenge crypto-native platforms that have traditionally operated without the constraints of traditional market hours.
The battle for 24/7 market control could reshape how cryptocurrency trading operates globally. Wall Street's entry with established infrastructure and regulatory backing may attract institutional investors who have remained cautious about purely decentralized platforms, potentially redirecting significant trading volumes from existing crypto exchanges to traditional financial institutions.
The success of CME's continuous trading launch and NYSE's tokenized platform development will likely determine whether established financial giants can successfully penetrate the crypto trading ecosystem or if decentralized platforms will maintain their competitive advantages in speed, innovation, and accessibility.
Source: CryptoSlate
