Hyperliquid has added five xStocks tokenized equity and ETF markets to HyperCore, expanding beyond stock-linked perpetuals into spot assets that users can hold, transfer and move into DeFi. T
Hyperliquid has added five xStocks tokenized equity and ETF markets to HyperCore, expanding beyond stock-linked perpetuals into spot assets that users can hold, transfer and move into DeFi.
The August 10 rollout opened USDC markets for Nvidia’s NVDAx, SPYx tracking the S&P 500 ETF, QQQx tracking the Nasdaq-100 ETF, SK Hynix’s SKHYx and Micron’s MUx.
All five trade through HyperCore’s onchain order books. Further xStocks deployments are planned over the coming weeks as the integration expands across Hyperliquid.
Hyperliquid already hosts substantial stock and index trading through HIP-3 perpetual markets, but those contracts provide derivative exposure rather than a transferable underlying token.
xStocks fill a different role. Each token is backed 1:1 by its reference asset held in regulated custody and can move between supported networks, self-custodied wallets and onchain applications. The products provide economic exposure rather than direct ownership of the referenced shares and do not carry shareholder voting or dividend rights.
That distinction creates new combinations between Hyperliquid’s spot and perpetual markets. Traders can hold tokenized Nvidia or SK Hynix exposure while separately trading the corresponding perp, opening routes for basis and hedging strategies without leaving the ecosystem.
Equity derivatives have already attracted substantial activity on Hyperliquid. Trade.xyz’s SpaceX-linked perpetual crossed $500 million in 24-hour volume during the company’s public-market debut.
The integration also extends beyond spot trading. Wrapped versions of xStocks can operate on HyperEVM, where they can be integrated into lending, collateral and structured-product applications.
Chainlink CCIP handles transfers into the Hyperliquid ecosystem, initially connecting supported xStocks from Solana into HyperEVM. Assets can then be wrapped and moved between HyperEVM and HyperCore.
The first five tickers were selected partly from assets already seeing demand through HIP-3 markets. SK Hynix became a prominent example after an external pricing print caused its Trade.xyz perpetual mark price to plunge from $1,127.90 to $917.25, forcing liquidations that later resulted in USDC compensation for affected traders.
The rollout lands as the value of tokenized stocks reached a record $1.8 billion, with xStocks accounting for one of the largest shares of the sector alongside Ondo Global Markets.
xStocks has expanded to hundreds of tokenized securities across multiple blockchain ecosystems since launching in 2025, with cumulative transaction volume approaching $40 billion.
The products are not available in the United States or to U.S. persons, and geographic restrictions apply in other jurisdictions. xStocks plans to add more HyperCore tickers and expand DeFi integrations across HyperEVM following the initial five-market launch.
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