Hyperliquid launches perpetual futures on Bitcoin volatility index

Hyperliquid, the leading on‑chain perpetual futures exchange, has added a new product that tracks the Bitcoin Volmex Implied Volatility Index (BVIV). The BVIV index, often described as a “Bitcoin VIX,” measures the expected 30‑day volatility of Bitcoin in real time.

Product details

The BVIV perpetual contracts are collateralised in USDC and launch with up to 5× leverage. Traders can take either long or short positions directly on the volatility index, bypassing the need to trade options to express volatility views.

Launch partners

The listing was coordinated by Markets by Kinetiq, in partnership with Volmex Labs and Perps.inc. It marks the first on‑chain perpetual futures market for Volmex’s Bitcoin volatility index.

Market context

Hyperliquid’s platform, valued at over $90 billion, processes billions of dollars in daily trading volume and is a primary venue for traders, especially during weekends when traditional markets are closed. Adding BVIV expands its roster of perpetuals, which already includes crypto, equities, legacy indices, and commodities.

Industry perspective

Volmex CEO Cole Kennelly described the launch as a “massive unlock” for crypto traders, enabling easier hedging, speculation, and pure volatility exposure.