Wu Shuo learned that Grayscale posted that the Hyperliquid HIP-3 proposal has extended perpetual futures from cryptocurrencies such as BTC and ETH to traditional financial assets like stocks, commodities, indices, and pre-IPO stocks. The article disclosed that in March 2026, S&P Dow Jones Indices authorized a HIP-3 deployer to launch the first S&P 500 perpetual contract product on Hyperliquid. Data shows that the related market reached a peak of $3.2 billion in open interest in June this year, with a total trading volume of $200 billion.