Perp futures linked to 'bitcoin VIX' debut on Hyperliquid

Perpetual futures on the Bitcoin Volmex Implied Volatility Index (BVIV) debuted on Hyperliquid on Monday, giving traders on the onchain exchange a way to bet on the degree, not direction, of bitcoin’s price swings.

The BVIV Index, often described as a "bitcoin VIX," tracks cryptocurrency's expected 30-day implied or expected volatility in real time. The index is analogous to Cboe’s VIX index, which tracks the 30-day implied volatility in Wall Street’s benchmark equity index, S&P 500.

The new perpetual market lets traders go long or short the volatility index directly, instead of having to express volatility views indirectly through options, an approach that is capital-intensive and requires derivatives expertise.

The launch comes as the digital-asset market becomes increasingly institutionalized, drawing in a broader mix of participants – from hedge funds, volatility traders, options-income sellers and beyond.

“The launch of BVIV Index perpetual futures on Hyperliquid is a massive unlock for crypto traders and investors," said Cole Kennelly, founder and CEO of Volmex Labs. "The market leading Bitcoin volatility index is now available to trade on the market leading onchain perpetual futures exchange, making it easy to hedge, speculate, and utilize pure Bitcoin volatility exposure."