Ventuals Shuts Down Hyperliquid Private Markets as HIP-3 Trading Consolidates Around TradeXYZ

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• Ventuals is winding down operations and joining another team within the Hyperliquid ecosystem.
• OPENAI and ANTHROPIC perpetual futures markets have been settled using 24-hour TWAP pricing and halted for trading.
• The project generated more than $650 million in trading volume and raised over 500,000 HYPE in community support.
• TradeXYZ now accounts for nearly 97% of HIP-3 trading volume, highlighting consolidation among Hyperliquid market operators.
• vHYPE holders will receive deposited HYPE back 1:1 plus accrued native staking rewards after market closures.

Ventuals Ends Operations After Expanding Access to Private-Company Markets

Ventuals, one of the most prominent projects operating private-company perpetual futures markets on Hyperliquid, announced it is winding down operations and joining another team building within the Hyperliquid ecosystem.

The closure marks a significant development for Hyperliquid’s HIP-3 framework, which allows third-party teams to create and manage perpetual futures markets. Ventuals became known for launching markets tied to the valuations of private artificial intelligence companies OpenAI and Anthropic, giving traders exposure to changes in those firms’ perceived valuations despite neither company being publicly listed.

The team stated:

“For the first time ever, exposure to private companies was open to everyone with instant execution, no paperwork, management fees, or performance fees.”

In its announcement, Ventuals said its goal was to create “24/7 private markets” that would allow global users to gain exposure to major private technology companies before potential public listings. During its operation, the project reported more than $650 million in cumulative trading volume and over 500,000 HYPE raised through community participation.

OpenAI and Anthropic Markets Settled as Trading Halts Begin

Effective immediately, Ventuals froze mark prices for its OPENAI and ANTHROPIC markets using 24-hour time-weighted average prices (TWAPs) calculated from mark-price samples taken every five minutes. Funding rates were also set to zero as part of the settlement process.

The OPENAI market was scheduled to halt at 10:30 a.m. ET using a settlement mark price of $1,341.80, derived from the 24-hour TWAP covering June 14 to June 15. The ANTHROPIC market was scheduled to halt at 11:30 a.m. ET using a settlement mark price of $1,618.90.

All open positions are being settled automatically based on the frozen TWAP values, with no action required from traders.

Ventuals also outlined a timetable for shutting down its remaining commodity and index markets. Commodity contracts, including WHEAT and SOY, will be settled after regular trading concludes on June 18, while index products such as MAG7, SEMIS, ROBOT, INFOTECH, NUCLEAR, DEFENSE, ENERGY and BIOTECH will also be settled and halted in stages later that day.

During the settlement period, mark and oracle prices will track the latest available external market data before freezing at the end of regular trading hours. Funding rates across these markets have been set to zero.

vHYPE Withdrawals Begin as Hyperliquid Market Landscape Consolidates

Following the completion of market settlements, all vHYPE holders will be able to withdraw their deposited HYPE tokens on a 1:1 basis while retaining any accrued native staking yield.

Ventuals said withdrawal processing will begin on June 19, with claims becoming available after Hyperliquid’s standard seven-day unstaking period plus a 12-hour cooldown. Users who submit withdrawal requests before the first processing batch are expected to receive their HYPE by June 26.

The project also confirmed the immediate termination of its points and referral programs. Ventuals stated that no token launch will occur and that accumulated points will not be redeemable for tokens, equity, cash or any other assets.

The shutdown comes as Hyperliquid’s HIP-3 ecosystem experiences increasing concentration. According to data cited by the project, TradeXYZ now accounts for nearly 97% of HIP-3 trading volume, making it the dominant operator within the category. TradeXYZ currently offers markets linked to companies such as SpaceX through perpetual futures contracts.

The development reflects a broader trend in crypto-native markets, where decentralized trading venues are expanding beyond cryptocurrencies into products linked to private companies, commodities and equity indexes. At the same time, consolidation among market operators appears to be accelerating as trading activity concentrates around a smaller number of providers.

Industry Closures & Restructuring

The development reflects a broader trend across the crypto industry, where projects are increasingly restructuring or winding down operations following security incidents and changing market conditions. Recent examples include Radiant Capital, which ended development efforts after an 18-month struggle to recover from a major hack, Zerion, which temporarily shut down its web application following the detection of abnormal activity while confirming that user funds remained safe, and Balancer Labs, which announced a leaner operational structure after shutting down following a $128 million exploit.

Market Performance Update

At the time of writing (7:55 am UTC), the asset was trading at $72.95, recording a strong 11.99% gain over the past 24 hours and a 17.42% increase over the last seven days. The continued upward movement reflects strong buying pressure and growing market interest. Recent price performance indicates bullish sentiment among traders, with the asset maintaining momentum throughout the week. According to CoinMarketCap data, it remains one of the stronger-performing digital assets over the observed period.